The Investment Perspective, with Ninety One

Markets look mad, but the strategy behind them is coherent

Memory chips up 600%, a US war with Iran, oil above $100 and equities at record highs. Philip Saunders argues the madness is mostly noise. Beneath it sit four forces, a US playbook that makes sense, and bonds that finally offer value.

13 Oct 2026

16 minutes

Philip Saunders
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