By Asset Allocator Journal Staff
A commentary in Advisor Perspectives reports that personal income rose in May, though not strongly enough to support a robust increase in consumer spending. The author highlights that services spending carried the increase while goods purchases fell, noting that such a trend raises concerns about the sustainability of consumption. The commentary concludes that this report is not encouraging for those hoping to see meaningful growth in the coming months.
Via the Financial Times, A Bloomberg Market feature details how Russia is fortifying its eastern frontier with an increased military presence and defensive infrastructure, reflecting fears of spillover from the Ukraine conflict. Analysts warn that this build-up could complicate regional security and strain economic ties across the Asia-Pacific.
According to WealthManagement.com, former Bank of America Private Bank executive Tom Burroughes has joined $2 billion RIA Fidelis Capital. Burroughes, who had previously retired, brings decades of experience in serving ultra-high-net-worth clients. He joins as a partner and private wealth advisor in the Tampa office, further strengthening the firm’s focus on complex client needs and multi-generational planning.
Per Advisor Perspectives, Donald Trump is pressuring NATO members to increase their defense spending to 5% of GDP, far above the current 2% guideline. The article explores how this proposal, if adopted, could accelerate global rearmament and lead to a new arms race. It discusses the geopolitical ramifications of such military escalation and how NATO’s future cohesion may be tested by diverging national priorities.
As reported by Business Matters, UK packaging firms are warning that a new 10-pence-per-item packaging tax — primarily targeting plastic — could threaten sector viability and push recyclers out of business. Companies argue the levy is poorly timed, giving them little room to adjust before its rollout.
Per the Financial Times, global gold markets are shifting as central banks from China and India to Egypt and Hungary ramp up purchases — a trend credited with lifting gold to record reserves levels. The analysis highlights that emerging-market demand now accounts for the majority of incremental global buying, reshaping market dynamics.
Advisor Perspectives reports that thematic exchange-traded funds (ETFs) continue to capture investor interest in 2025, with assets under management growing even amid broader market uncertainty. The piece attributes their appeal to storytelling potential and niche exposure, allowing investors to align portfolios with specific convictions or macro trends.
From Business Matters, the Institute of Directors warns that UK business confidence has declined during June, with firms citing rising taxes — particularly the packaging tax — as the main drag on sentiment. The snapshot shows that both investment intentions and hiring plans weakened, with respondents calling for clearer fiscal direction.
