Bassline Episode 9

The Great Rotation? Summer update with Lance Peltz. Is the AI trade beginning to unwind—and could the UK market finally be having its moment? In this episode of Bassline, Dave Wallace is joined by Lance Peltz, Chief Investment Officer at Cavendish Ware, to examine the forces moving global markets.

Two themes continue to dominate: Geopolitics and Technology. The US - Iran war has reached an uneasy and uncertain ceasefire as neither side seems keen on continuing major hostilities. Despite some occasional exchanges of missiles, the oil price has declined from a peak of US$120 per barrel in May to US$74 at the quarter-end, effectively the same price as just before the outbreak of hostilities. This is despite the fact that supplies from the Gulf will remain materially below pre war volumes for sometime.

Pensions have long been seen as one of the most tax-efficient ways to pass wealth to the next generation. But from April 2027, that could change dramatically. In this episode, Dave sits down with financial planners Mat Bonney and Adrian to unpack one of the biggest proposed shifts to UK inheritance planning in years: the move to bring pension pots into inheritance tax calculations.

Recently, seven members of the Cavendish Ware team, joined by family and friends, took on the Welsh 3000s – one of the UK's most iconic mountain challenges. Over three days, the team covered 35 miles, climbed almost 15,000 feet and spent more than 24 hours exposed to the elements on the mountains.