Stock Rally Keeps Rolling, Latest ETF Tax Trick, Digital Pound Scepticism

Your morning briefing, the business news you need in just 15 minutes.

On today's podcast:

(1) A cohort of the world’s largest asset managers is leaning harder into the rally in risk assets as US stocks push to fresh highs, defying persistent trade and geopolitical tensions.

(2) Junk bond funds based in Europe saw their biggest weekly inflow of the year last week, as investors continue to pile into an asset class that offers relatively generous yields, stability and diversification away from the US dollar.

(3) AstraZeneca plans to invest $50 billion in the US before 2030, becoming the latest European pharma company to ratchet up spending in the country ahead of potential tariffs on imported medicines.

(4) Treasury Secretary Scott Bessent said in a social media post Monday that there should be a review of the decision to renovate parts of the Federal Reserve headquarters in Washington.

(5) The ruling Labour party and upstart rival Reform UK separately opened the door to a potential increase in the retirement age, a move that would help cut the government’s costs but almost certainly draw a backlash from the public.

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