We also cover the Bank of Canada's upcoming rate decision and escalating US–Canada trade tensions, Belgium's newly passed capital gains tax deadline, and renewed disruption around the Strait of Hormuz.

For those with financial connections to southern Europe, we explain the upcoming Modelo 210 reporting changes for non-resident property owners in Spain and the transition to Malta's new Individual Tax Programme from January 2027.

Finally, HMRC has published further technical detail on the major change coming from 6 April 2027, when most unused UK pension funds and certain pension death benefits will be brought within the value of an estate for UK Inheritance Tax purposes.

If any of these developments could affect your pensions, investments, property, estate planning or plans to move abroad, you can book a complimentary, no-obligation meeting with a qualified Chase Buchanan adviser at: chasebuchanan.com/book

We also revisit the UK Inheritance Tax changes affecting most unused pension funds and pension death benefits from April 2027, before considering Belgium’s new capital gains tax and its implications for people moving into or out of the country.

Information was checked on 11 August 2026. This podcast is intended for general information only and does not constitute financial, tax or legal advice. Individual circumstances differ, and professional advice should be sought where appropriate.

In this Weekly Market Update, we separate political headlines from financial reality and examine the developments most relevant to expatriates, retirees and internationally mobile families.

Topics include the UK’s new government and the approaching Inheritance Tax changes affecting pensions, continued disruption around the Strait of Hormuz, interest rates and currency movements, Belgium’s new Capital Gains Tax rules, QROPS risks for US-connected pension holders, and the changing role of bonds, cash and private credit in retirement portfolios.

Information and market data were correct as of 27 July 2026 and may have changed since recording.

The episode covers the orderly UK leadership transition following Sir Keir Starmer’s resignation, the market impact of easing geopolitical tensions and lower energy prices, and the continued volatility following the historic SpaceX IPO.

We also look at several important planning issues for internationally mobile families, including UK pension changes for British expatriates in the United States, the approaching year-11 challenge for Portugal’s Non-Habitual Resident regime, and Malta’s increasingly attractive tax framework for retirees and globally mobile professionals.

The key message this week is simple: for expatriates, successful wealth management is not about reacting to every headline, but about understanding the direction of travel and planning before deadlines force decisions.

The AI rally has entered a new phase, driven not just by hype, but by the physical infrastructure race behind data centres, GPUs, CPUs and Agentic AI. At the same time, renewed geopolitical tension has pushed Brent Crude above 94 dollars a barrel, adding fresh inflation pressure for households and globally mobile families.

We also look at the widening split between the European Central Bank, the Bank of England and the US Federal Reserve, and what this could mean for Sterling, the Euro and expatriates drawing income in one currency while spending in another.

Finally, we cover important cross-border planning developments, including changes to UK State Pension top-ups from abroad, the residence-based UK Inheritance Tax framework, Italy’s higher flat-tax regime, Spain’s regional inheritance tax changes, France’s wealth tax enforcement, and Portugal’s post-NHR landscape.

For globally mobile families, the message is clear: passive management is becoming increasingly risky. Currency exposure, asset concentration and local tax residency now need active, joined-up review.

We also explore the recent AI-driven software selloff, which appears to be stabilizing following reassurances from Anthropic and Nvidia CEO Jensen Huang. All eyes are now on Nvidia's quarterly earnings report tonight, where strong revenue expectations and forward guidance on chip demand could set the tone for the entire technology sector.

For our UK and expat listeners, we discuss Reform UK's controversial proposal to redirect £500 billion from the Local Government Pension Scheme into domestic investments. Finally, we cover essential financial planning updates, including the "One Big Beautiful Bill Act" tax on cash transfers and how higher earners can avoid the "AMT Trap" , wrapping up with a look at upcoming interest rate expectations from the Bank of England and the Federal Reserve.