About this episode

The episode discusses the shifting dynamics of government bonds and equity markets, questioning traditional portfolio strategies in light of current economic challenges.

Bond and equity markets are sending very different signals . While stocks continue to rally on optimism around earnings and AI-driven growth , bond investors are grappling with inflation risks, geopolitical tensions and mounting government debt. In this episode of the Asset Allocator Podcast , Aamina Zafar and David Thorpe are joined by Henry Cobbe, head of research at Elston Consulting, to discuss whether investors need to rethink traditional portfolio construction. The conversation explores whether the classic 60/40 portfolio still works, why government bonds may no longer provide the diversification investors expect, and where income opportunities can be found in today’s markets. Cobbe also explains how inflation, energy shocks and geopolitical events are reshaping asset allocation decisions, and why investors may need to look beyond conventional approaches to build resilient portfolios. The Asset Allocator Podcast discusses the big issues in UK fund selection and how wealth managers are positioning their portfolios. Sign up to the newsletter . Hosted on Acast. See acast.com/privacy for more information.

People in this episode

Hosts: Aamina Zafar, David Thorpe

Guest: Henry Cobbe

Topics covered

• government bonds
• portfolio construction
• inflation risks
• geopolitical tensions
• investment strategies

Keywords

• government bonds
• 60/40 portfolio
• diversification
• inflation
• geopolitical events
• asset allocation
• investment opportunities

Mentioned in this episode

Organizations: Elston Consulting

More episodes of The Asset Allocator Podcast

• Currency hedging the key to protecting clients income · June 11, 2026 · 31 min
• Is 3% the new 2% when it comes to the UK’s inflation target? · May 28, 2026 · 18 min
• Achieving diversification in an age of uncertainty · May 21, 2026 · 22 min
• Why income portfolios remain relevant in 2026 · May 14, 2026 · 23 min
• Why active fund management still has a role to play in portfolios · May 7, 2026 · 21 min
• Diversification is not a free lunch for investors · April 30, 2026 · 22 min

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