A short watch. 

In the first part of our exclusive video interview, Alan Higgins, chief investment officer at Coutts, talks me through what he sees as the “hidden hand” behind recent turmoil in markets – rising interest rates, especially in the US.

Assessing the big challenges for central banks this year, Alan discusses the previously widely held belief across the industry that quantitative easing was going to be hugely inflationary – this is a view he has never shared.

Alan also reflects on the “wrong call” he and his team made historically in being positive on sterling; but why he has since been increasing exposure to the pound at the margin in the run up to Brexit.

Alan also talks through some of his big calls in Coutts portfolios, including bricks and mortar property – not always a popular choice among fund pickers.