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Barclays Brief

In a world of constant change, Barclays Brief is your weekly source for differentiated perspectives that cut through the noise.

Each bite-sized episode delivers clear insights into the structural trends transforming sectors – from technology and healthcare to energy, industrials and beyond.

Through sharp dialogue and scenario-based analysis, we help you navigate complexity, make meaningful connections and anticipate what’s next – whether you’re managing a portfolio or leading a business.

Each week we dig deep into a key market theme, spanning equities, macro, credit and more, uncovering the forces shaping tomorrow to help you make smarter decisions today.

Stay sharp. Stay briefed.

Published by Barclays Investment Bank: https://www.ib.barclays/

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Important non-Research content disclosures: https://www.ib.barclays/disclosures/important-nonresearch-content-disclosures.html

Latest Episodes:

US equities: Beyond the pullback Aug 04, 2026

Show notes

After a spring sell-off and renewed summer weakness in technology stocks, uncertainty has remained a defining feature of the investment landscape. During the market sell-off following the start of the US-Iran conflict, Venu Krishna, Head of U.S. Equity and Equity Linked Strategy, challenged the subdued market narrative with his end-of-year expectations for the S&P 500.

Several months on, with volatility still elevated and fresh questions emerging around rates, AI investment and the broader macro backdrop, he joined the Barclays Brief to speak with Ronnie Wexler, Global Head of Equities Distribution, to explain why he remains constructive on US equities.

In this discussion, Krishna explains how his team’s thinking has evolved since that spring call and the factors shaping their view today. Together, they explore the strength of the earnings backdrop, the risks that could challenge market momentum and why recent weakness in parts of the technology sector may not tell the full story.

The conversation also examines Krishna’s recent research into disruption winners and losers. Drawing on previous periods of technological change, he explains the characteristics that have historically separated companies that adapted from those that struggled. As AI continues to reshape industries and business models, the research offers an historical lens through which investors can view one of today’s most significant market themes.

Clients can read more on Barclays Live:

Disruption '26: A Framework for Differentiating Disruption Winners & Losers

Food for Thought: Buyback pullback

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Ep42 AI credit supply tests market capacity

Ep 41 Challenging Market Consensus

Ep 33 AI goes economy-wide

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AI credit supply tests market capacity Jul 28, 2026

Show notes

The AI buildout is fuelling a wave of new credit supply, and the sheer volume of debt is starting to test the market's capacity to absorb it. Year-to-date, the AI ecosystem has accounted for roughly 20% of all US corporate bond issuance, and the six hyperscalers are now bigger than the big six banks in some key measures.

In this episode of Barclays Brief, Ronnie Wexler, Global Head of Equities Distribution, and Dominique Toublan, Head of US Credit Strategy, discuss how AI financing is reshaping credit markets, why investors are demanding greater compensation to absorb this wave of new issuance, and what growing concentration among hyperscalers could mean for the broader investment-grade market.

They also discuss how these companies are tapping every available funding channel, from public bonds and private credit to securitised markets and equities, to finance the AI buildout and why that is drawing increasing attention from equity investors.

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Important Content Disclosures

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This content is for informational purposes only and does not constitute investment advice or a recommendation. Views expressed are those of the speakers and may not reflect those of the firm. Any forward-looking statements are based on current assumptions and subject to risks and uncertainties.

Challenging market consensus Jul 21, 2026

Show notes

Markets can become crowded around consensus views. In this episode of the Barclays Brief, Patrick Coffey is joined by Brian Kuritzky from our Rates Sales team to explore potential investor complacency, from expectations for the Fed to the way political risk is being priced.

The conversation focuses on three ideas Kuritzky believes deserve more attention: the risks around energy and inflation expectations, the great wealth transfer and its potential impact on US economic resilience, and the headwinds facing the AI CapEx cycle including the domestic political pushback against data centre expansion.

They also discuss why a more resilient US consumer could make it harder for the Fed to cut interest rates, why dips in rates may create investment opportunities, and why market volatility may not be fully reflecting the uncertainty around policy, election and cross-asset risks.

Clients can read more on Barclays Live:

AI adoption and productivity: Early evidence

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Cooling the AI buildout Jul 14, 2026

Show notes

Power constraints have dominated the conversation around AI infrastructure, but the buildout is facing a broader convergence of execution risks. Cooling, water use, permitting, labour shortages and growing local opposition are emerging as critical factors that could affect where and how quickly new data centres are built.

In this episode of Barclays Brief, Ronnie Wexler, Global Head of Equities Distribution, speaks with Will Thompson, Thematic Investing Research Analyst, about the challenges shaping the next phase of AI infrastructure. They explore why cooling is becoming increasingly important, how water use is emerging as a key consideration in data centre operations, and what these pressures could mean for deployment timelines and market expectations.

They also discuss how hyperscalers are taking different approaches to cooling and water use, highlighting the complexity of balancing efficiency, sustainability and local impacts. Together, these pressures point to execution risks that may not yet be fully reflected in markets.

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Opportunities in Asian Equities Jul 07, 2026

Show notes

Investor positioning across Asian equities is shifting, with opportunities increasingly driven by market-specific factors rather than a single regional or thematic narrative.

In this episode of Barclays Brief, Patrick Coffey is joined by Kaan Singh, Head of APAC Barclays Equities Tactical Strategies and Flow Equity Derivatives, to dive in to where investors are putting money to work in Asia and why.

They discuss the rotation toward Japan, as investors look beyond the most crowded AI and semiconductor trades and search for more durable structural themes. Alongside this, the conversation explores early signs of re-engagement in China, supported by improving market sentiment and upcoming tech IPOs, and Korea’s highly concentrated semiconductor and high-bandwidth memory (HBM) market.

Looking ahead, they consider how market expectations around AI investment are evolving and offer a clearer lens on how opportunities across Asian equities could develop.

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Q3 2026 Global Outlook: Solid fundamentals, fewer bargains

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Brexit, Burnham and Britain's Next Decade Jun 30, 2026

Show notes

Ten years after the Brexit referendum, many studies assess the effects on the UK economy as negative, pointing to weaker growth, lower investment and a tighter fiscal backdrop as its legacy. But the focus now is forward-looking. After Andy Burnham set out his 10-year economic vision centred on devolving more power to Britain’s cities and regions, the debate is shifting from what Brexit changed to what kind of economic model could define Britain’s next decade.

Joining Patrick Coffey, UK Chief Economist Jack Meaning reviews the state of the UK economy today, including subdued growth, inflation that remains close to 3%,and the limited room any future Chancellor has on borrowing, tax and spending. They examine whether greater devolution could support stronger growth and identify potential policy changes investors should watch. They also highlight why the UK’s underlying fundamentals may be stronger than market sentiment often suggests.

This episode was recorded on Monday 29 June at 3pm British Summer Time.

Listeners can hear more related to this topic:

-Decoding the bond sell-off

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-First Look: Burnham speech

-UK – 10 years after Brexit

-Making Sense of Makerfield

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Can football fever lift the economy? Jun 23, 2026

Show notes

The World Cup has kicked off across North America in its largest and most geographically dispersed format yet. This year, the tournament expands to 48 teams (up from 32 in 2022), 104 matches (vs. 64) and 16 host cities across the US, Canada and Mexico. The scale is set to drive a surge of visitors, viewership and national pride, but the economic payoff may be short-lived.

In this episode of Barclays Brief, Ronnie Wexler, Global Head of Equities Distribution, sits down with Pooja Sriram, Senior US Economist, to discuss the tournament’s economic implications for host countries, how viewership could translate into value, which sectors stand to benefit most and why demand looks uneven.

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The rise of the consumer health economy Jun 16, 2026

Show notes

Consumer health is undergoing a structural shift, moving beyond traditional treatment and becoming embedded in everyday spending. Where consumers were once focused on curing illness, they are increasingly aiming for prevention, with demand extending across categories from supplements and sports nutrition to oral health and functional foods.

In this episode of the Barclays Brief, Patrick Coffey is joined by Warren Ackerman, Head of European Consumer Staples Research, to explore how this shift in consumer behaviour is reshaping the industry.

They discuss how the COVID-19 pandemic accelerated consumer interest in self-care, driving sustained demand for health-related products and increasing the role of e-commerce in the category. The conversation also examines where growth is emerging today, from increased spend in established categories to new areas supported by advancing science, as well as how these trends differ across developed and emerging markets.

They explore how the industry is evolving as it becomes more consumer-led, and where the next opportunities lie, including e-commerce and more personalised health solutions.

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Weight loss drugs: Scaling‑up

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US equities: short-term pain, long-term gain? Jun 09, 2026

Show notes

US equities have delivered strong gains year-to-date, despite a challenging macro backdrop, but that momentum is beginning to look less secure. While fundamentals remain supportive, the near‑term setup is becoming more stretched.

In this episode of Barclays Brief, Patrick Coffey is joined by Alex Altman, Head of Equity Tactical Strategies in our Markets division, to break down his shift to a short-term tactically cautious view.

They discuss how the balance of risks has begun to shift, with elevated euphoria and crowded positioning — particularly in AI‑linked momentum trades — leaving markets more exposed if that positioning unwinds. At the same time, higher real yields are starting to weigh on valuations, making the forward return profile less compelling, despite resilient earnings and macro data.

They also examine equity supply, with a growing pipeline of IPOs and broader issuance adding complexity to the near‑term outlook.

Taken together, these dynamics point to a more fragile setup. Patrick and Alex explore how the market may evolve and what role a pullback could play in resetting the current environment.

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The Fed’s next move Jun 02, 2026

Show notes

The path for US interest rates has shifted sharply in recent months, as markets move from pricing rate cuts to pricing a potential hike. In this episode, Ronnie Wexler sits down with Barclays’ Chief US Economist Marc Giannoni to look at what’s driving that shift.

At the centre of the discussion is inflation. While headline inflation has been pushed higher by rising energy prices driven by the Iran war, the key question for new Fed chair Kevin Warsh is whether those pressures feed through into core inflation and ultimately shift longer-term expectations. That, Giannoni argues, is what could determine the Fed’s next move.

The conversation also turns to the US consumer. Slowing real income growth, higher gasoline prices and a cooling labour market are starting to weigh on household spending, raising questions about how resilient demand can remain. Whilst these pressures could drive consumer spending down, the US consumer has surprised to the upside many times before according to Giannoni.

So what should investors watch next? From inflation prints to consumer behaviour, listen to learn which signals could shape the Fed’s policy path in the months ahead.

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