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Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.
British stocks are on track for their best half-year since 2021. Meanwhile, concerns about unpredictable trade policy and spiralling government debt have shaken a long-held investor belief in “US exceptionalism”. If ever there were a time for British investors to buy local, surely it would be now?
Instead, while foreign investors are pouring in, Brits seem to be using the rally as yet another opportunity to sell. Overseas inflows into UK equities recently hit their highest level in three years, according to data from EPFR and Goldman Sachs, while domestic investors have been net sellers all year. That is a “major difference” with the pattern in the rest of Europe, Goldman analysts say.
The peculiarly British issue is more than just a question of national pride. Goldman’s analysis found that higher…
