Barclays Brief

Episode

• The rise of the consumer health economy 16.06.2026 10mnt

  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.​​Clients can read more on Barclays Live:​​The Future of Consumer Health: Growing Pains​Consumer Health: The leaders and laggards​India Consumer Health: The next battleground​Listeners can also hear more episodes on this topic:​Weight loss drugs: Scaling‑up​Important Content Disclosures
• US equities: short-term pain, long-term gain? 09.06.2026 12mnt

  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.Clients can read more on Barclays Live:​The Global Volatility Pulse: Macro stumble, technical reset​Equity Market Review: Shaky momentum, nascent rotation​U.S. Equity-Linked Strategies: AI Capex Funding: Why Equity? Why Converts?​Listeners can also hear more episodes on this topic:​The Fed's next move ​The cusp of a capex supercycle​A bullish view on US equities​Important Content Disclosures​Important Non-Research Content Disclosures
• The Fed’s next move 02.06.2026 8mnt

  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.Clients can read more on Barclays Live:Waiting for the dealWhat would trigger a 2026 Fed hike?Consumers feeling the strainApril consumer spending moderating amid faltering incomeListeners can also hear more episodes on this topic:Inflation crosscurrents: Energy vs AI Decoding the bond sell-off Do high gas prices change how Americans buy cars?Important Content DisclosuresImportant Non-Research Content Disclosures
• AI goes economy-wide 26.05.2026 11mnt

  Productivity growth has been uneven across many sectors and economies. But AI in the form of humanoid robotics could change that, extending automation into physical services at scale.In this episode of Barclays Brief, Patrick Coffey is joined by Christian Keller, Head of Economics Research, to discuss what this shift could mean for productivity and the wider macro outlook. Keller explains that while a jobless future remains unlikely, the long‑running balance between labour and capital could continue to evolve as a broader range of tasks are automated.The conversation explores how combining cognitive and physical automation increases capital intensity and raises the importance of inputs such as electricity and commodities. They also consider how these forces could influence inflation dynamics and interest rates.As automation spreads into the physical economy, understanding where productivity gains may accrue – and what constrains them – becomes increasingly important. Listen now to hear the full discussion.Clients can read more on Barclays Live:•How humanoid robotics matters for macro •Ten things to know about humanoids •The decade of the robot belongs to China •Embodied AI: Wealth creation or economic displacement?Listeners can also hear more episodes about developments of physical AI:•Robots deliver dinner and profits•Rise of the humanoid robots•AI Revolution: China’s Five-Year Plan Important Content Disclosures
• Decoding the bond sell-off 19.05.2026 11mnt

  Global bond yields have been rising sharply, with long-term yields breaking higher across multiple markets - pushing US 30‑year yields above 5%.​The sell-off was initially triggered by energy-linked inflation resulting from the Iran war, but increasingly reflects a broader, cross‑market re-pricing, with fiscal pressures, shifting rate expectations and signs of bear‑flattening emerging in key markets.​In this episode of the Barclays Brief, Lucile Flight, Managing Director in Rates Trading, joins Patrick Coffey to examine what’s driving the move in different regions – from political uncertainty shaping UK gilts to changing views on neutral rates in the US and a dialled-back ECB response in Europe. ​They discuss what could bring yields down again and where investors are seeing the most compelling opportunities across global rates.​Listeners can hear more on this topic:​​​Inflation crosscurrents: Energy vs AI ​European rates: Inflation & AI waves collide ​Clients can read more on Barclays Live:​​Thinking Macro: No saving grace ​Federal Reserve Commentary: What would trigger a 2026 Fed hike?United Kingdom Outlook: What a week...Global Economics Weekly: Leaders meet and bonds shriek
• Inflation crosscurrents: Energy vs AI 12.05.2026 12mnt

  Markets are facing two competing inflation stories at the same time: a near‑term energy shock pushing inflation risks higher, and the possibility that AI acts as a medium to longer-run disinflationary force.​In this episode of Barclays Brief, Patrick Coffey, Global Head of the Product Management, sits down with Jon Hill, Head of US Inflation Strategy, to break down how energy price spikes feed into headline versus core inflation, what breakevens and real yields are signalling, and how central banks may respond to energy shocks they can’t control. ​They also discuss whether core inflation dynamics are drifting back toward a pre‑COVID structure, and how AI could shape the path ahead through productivity, wages and margins.​​​Listeners can hear more on this topic:​​​Jet fuel shortage: Holidays at risk? ​European rates: Inflation & AI waves collide ​​​Clients can read more on Barclays Live:​​The view from overseas ​A Claudy inflation outlook ​​Important Content Disclosures​
• Jet fuel shortage: Holidays at risk? 05.05.2026 10mnt

  Jet fuel shortages linked to the continuing Iran war are dominating headlines, raising questions about whether this poses a genuine risk to global travel or whether markets are getting ahead of the reality.As the airline industry moves toward the peak summer travel period, Patrick Coffey sits down with our Head of European Transport Equity Research, Andrew Lobbenberg, to dissect what’s happening in aviation fuel markets. They explore the known knowns and the known unknowns at this moment, including why Europe is more exposed than other regions, and who will likely bear the costs if constraints persist.The episode also examines the realistic scenarios for airlines and passengers, from short‑term disruption to longer-term implications.Listen now to cut through the headlines and understand what this period of uncertainty means for the aviation sector, its investors and its consumers.Clients can read more on Barclays Live:•European Transportation: Airline potential fuel shortages•European Airlines: Messy uncertain days - March quarter preview•European Integrated Energy: Assessing the diesel and kerosene shortage risk•European Lodging - War and Peace: Scenario Analysis on Conflict, Fuel Supply and Oil PricesImportant Content Disclosures
• Credit: the signals markets can’t ignore 28.04.2026 8mnt

  Credit markets often process stress before other parts of the market are able to. During periods of volatility, the signals they send can help investors distinguish between shocks that are likely to prove temporary and those that risk becoming more systemic.​In this episode of Barclays Brief, Ronnie Wexler, Head of Equities, sits down with Drew Mogavero, Global Head of Credit Products and CEO of Barclays Capital Inc., to explore why credit markets have remained relatively stable during recent periods of stress. They discuss how investment‑grade and higher quality high yield have continued to find support and what this demand reveals about market conditions. ​The conversation also looks at how credit signals can inform views across equities and rates, where stress tends to emerge first, and what today’s market dynamics reveal about the broader economic backdrop.​​Listeners can hear more on this topic:​​​Processing uncertainty in real time​​Credit markets: What's ahead for 2026​Private credit: Hidden interconnectivity​Clients can read more on Barclays Live:​​Not that quiet beneath the surface​​Woes of waiting ​​​​​Important Content Disclosures​Important non-Research Content Disclosures​
• Robots deliver dinner and profits 21.04.2026 10mnt

  Food delivery is changing fast, with last-mile autonomous hardware being developed and deployed at pace. In this episode of the Barclays Brief, Patrick Coffey is joined by Guillaume Galland to explore how robots and drones are beginning to reshape food delivery economics around the world.Drawing on ground‑level observations from cities including Los Angeles, Helsinki, Dublin and Dubai, Guillaume explains why autonomous delivery adoption differs by geography, and why some markets are already seeing meaningful penetration.The conversation breaks down the two core technologies now in play – aerial drones and ground‑based robots – and they discuss where each are best suited to excel.The discussion also covers the economics driving momentum in the sector – how autonomous delivery stacks up against human couriers from costs, speed and reliability, and if they offer an enhancement for consumers and restaurants alike. They also look past the exciting developments and look at the hurdles that remain, ranging from regulation and operational complexity.Crucially, this is not about replacing human riders altogether, as Guillaume explains. Physical AI is a structural lever that will sit alongside traditional delivery models, changing how the last mile works rather than removing people from it.Listen in to understand where autonomous food delivery is gaining traction, what’s holding it back, and why it matters for platforms, restaurants and investors watching the future of last‑mile logistics.Clients can read more on Barclays Live:Robot at the Door: Last-Mile ShiftListeners can also hear more episodes about developments of physical AI:Robotaxis: The future of mobilityRise of the humanoid robotsAI Revolution: China’s Five-Year PlanImportant Content DisclosuresImportant non-Research Content Disclosures
• Prediction markets: A new market signal 14.04.2026 10mnt

  Prediction markets are suddenly top of mind for a range of people. From elections and sporting events to pop culture and breaking news, probabilities are flashing across screens in real time. What started as a niche concept is increasingly being treated as a signal for how uncertainty gets processed and priced.​In this episode of the Barclays Brief, Ronnie Wexler sits down with US Gaming Research Analyst, Brandt Montour, to explore why prediction markets have surged into the spotlight. They dig into how these platforms work, why the “wisdom of crowds” has captured attention across media and finance, and what’s driving the growth in activity and valuations.​The conversation goes beyond the hype, tackling the growing regulatory pushback, the tension between state and federal oversight, and the key differences between prediction markets and traditional sportsbooks. They also examine who’s winning, who’s losing, and what the rapid shift in capital across the gaming landscape may be signaling for investors thinking about how to position as this market continues to evolve.​Clients can read more on Barclays Live:​Mounting Opposition, but No Quick Regulatory Endgame​Predicting a Sports Launch - 72¢​Prediction markets for CPI?​​Important Content Disclosures​Important non-Research Content Disclosures​
• The quantum computing moment 07.04.2026 12mnt

  Quantum computing has long been viewed as a future technology. Now, it’s poised to overtake classical computing systems in specific useful tasks in the next 12-24 months.In this episode of Barclays Brief, Laia Marin joins Patrick Coffey to discuss why now may be the time for corporates and investors to engage with quantum computing. They break down the fundamentals, including the different modalities, and its potential to solve complex business problems, analysing unstructured data and developing complex optimisation solutions.Laia also explores the current limitations of quantum systems, the competing qubit modalities racing to scale, and how quantum computing is additive to classical computing infrastructure, potentially allowing companies to integrate quantum capabilities alongside existing systems, rather than replacing them.This episode offers an accessible overview of where quantum stands today – and how to start preparing for its impact.Listeners can hear more on this topic:​•Episode 20: Software: In the AI stormClients can read more on Barclays Live:•Quantum Computing: The race is on•Quantum Computing: Friend, not foe•Quantum Computing: Correcting the biggest investor myths around quantumImportant Content DisclosuresImportant non-Research Content Disclosures
• The cusp of a capex supercycle 31.03.2026 13mnt

  In recent months, market narratives have been dominated by geopolitical shocks, energy volatility and higher interest rates. But step back, and a much bigger story is coming into focus.Advanced economies may be on the cusp of a new, historic investment cycle – one with the potential to rival the great build‑outs of the past, from 19th‑century railroads to the Apollo missions and the information‑technology boom of the 1990s.While much of the capex narrative has focused on AI and the race by hyperscalers to build faster, more efficient models, this is only one part of the picture. Energy systems, electrification, defence spending and economic resilience are all reinforcing the scale of capital deployment now underway.In this episode of the Barclays Brief, Patrick Coffey is joined by Christian Keller, Chief Economist at Barclays, to examine how 150 years of investment data show that long periods of under‑investment are often followed by powerful capex cycles and why after two decades of weakness, the latest numbers point to the early stages of one with historic potential.Listeners can hear more on this topic:​•Episode 22: Processing uncertainty in real time•Episode 17: Metals & mining: meltdown or opportunity?•Episode 7: US dollar & the AI capex cycleClients can read more on Barclays Live:•Supersize me: The coming investment cycle•Cracks, but not a crater (Q2 Global Outlook)•Defence Quarterly: a 10-year cycle still to come?Important Content DisclosuresImportant non-Research Content Disclosures
• European rates: Inflation & AI waves collide 24.03.2026 11mnt

  Markets have been anything but calm lately. Inflation shocks, surging energy prices and the AI narrative have collided to deliver one of the most dramatic periods in rates markets in years, forcing investors to rethink interest‑rate paths in real time.In Europe and the UK, that reassessment has been especially stark. Expectations for rate cuts have rapidly flipped to pricing further hikes, with the Bank of England at the centre of the storm. Gilt yields have surged to levels last seen during the 2008 Global Financial Crisis, while German yields have climbed to post‑sovereign‑crisis highs. What began as an energy shock has quickly morphed into a bond‑market shock, lifting borrowing costs for households and businesses alike and delivering a renewed wave of financial whiplash for mortgage holders.Against this already fragile backdrop, markets were whipsawed yet again by a single social‑media post, triggering sharp reversals across rates, equities and commodities in the space of hours.So how do you trade through volatility of this magnitude? Which signals still matter when headlines dominate price action? And how do inflation risks, AI‑driven narratives and crowded positioning interact in today’s market structure?To make sense of it all, Patrick Coffey is joined by Hamza Hoummady, Head of EMEA Rates Trading, for a wide‑ranging discussion on what is driving today’s unprecedented moves, how this episode compares with past crises, and what investors should be watching next.Listeners can hear more on this topic:​•Episode 23: A bullish view on US equities•Episode 22: Processing uncertainty in real time•Episode 16: Forces shaping markets in 2026Clients can read more on Barclays Live:•Recovery delayed redux•On hold, holding on•Ides of March•Dueling mandatesImportant Content DisclosuresImportant non-Research Content Disclosures
• A bullish view on US equities 17.03.2026 12mnt

  Markets may look relatively steady compared with past oil shocks, but the real story sits in the undercurrents. Despite only a modest pullback in major indices, the Iran‑linked shock has sparked some of the sharpest sector rotations in years as fast‑moving capital unwinds crowded trades and reprices global risk.In this episode of Barclays Brief, Patrick Coffey is joined once again by Alex Altmann, Head of Equity Tactical Strategies, to break down what’s really moving markets: crowded international trades unwinding, energy‑importing regions under pressure, and liquidity mismatches accelerating the rotation.They also dig into the commodity complex, hit hard as investors absorbed significant losses, and explore why structural forces such as US-China decoupling, strategic reserve building, and critical minerals demand still support a compelling multi‑month (and potentially multi‑year) thematic opportunity.Ultimately, the conversation asks: what are market internals signalling that headline indices fail to show?From energy‑price anxiety and shifting Fed expectations to private credit concerns, join Patrick and Alex as they assess the pressures facing investors and why strong US corporate margins, healthier private‑sector balance sheets, and powerful AI‑driven capex trends continue to underpin a resilient, fundamentally bullish backdrop for US risk assets.Listeners can hear more on this topic:​• Metals & mining: meltdown or opportunity? • Is US equities exceptionalism finally cracking?Clients can read more on Barclays Live:• Framework for Modeling AI Demand & Supply – Capex 'Peak' Likely in 2028• Energy Sigma - Snowball effect• Equity Market Review - Waiting for the Trump put • The Long & Short of It - Conflict hits, conviction slipsImportant Content DisclosuresImportant non-Research Content Disclosures
• Processing uncertainty in real time 10.03.2026 9mnt

  Volatility has returned, and markets are recalibrating risk premia as new sources of uncertainty emerge across oil, inflation expectations, private credit and the AI investment cycle.In this episode of the Barclays Brief, Ronnie Wexler speaks with Ajay Rajadhyaksha to break down how markets are processing this uncertainty, and the transmission mechanisms that matter most for the medium-term path.They explore how investors are interpreting elevated oil prices and what sustained higher prices could mean for inflation expectations, as well as why private credit concerns remain slow moving rather than systemic. They also examine the structural tailwinds from AI, where hyperscaler CapEx and breakthrough adoption rates may continue to anchor long run productivity and growth.As the conversation tracks the market reaction to the escalating conflict in Iran and other recent headline shifts, Ronnie and Ajay focus on the observable indicators and signals shaping the medium-term outlook.Clients can read more on Barclays Live:Middle East Escalation HubWhen it rains...Barclays Equity Factor Insights: March 2026Takeaways From Anthropic's Enterprise Agent EventImportant Content DisclosuresImportant non-Research Content Disclosures
• Weight loss drugs: Scaling up 03.03.2026 14mnt

  Weight loss drugs have pushed the obesity therapeutics market to an inflection point, reshaping not only patient behaviour, healthcare spending and investor expectations, but also potentially the global economic outlook, as lower obesity rates could promise higher productivity and reduced long term healthcare costs.In this episode of the Barclays Brief, Patrick Coffey speaks with Emily Field, Head of US Biopharmaceuticals Equity Research, to break down the forces driving this shift.They pinpoint the key accelerants: the arrival of oral versions, rapid uptake among consumers, shifting cash‑pay models, intensifying pricing pressure, and fierce competition facing the early leaders.At the core, the episode answers this question: as these medicines move from specialist treatments to mass‑market consumer products, how will they reshape the market and determine who wins economically?They also look ahead to the sector’s next phase, from ex‑US adoption and earnings signals to new entrants, combination therapies and future applications in areas such as addiction.Clients can read more on Barclays Live:• There’s no place like home; initiating coverage on U.S. Biopharmaceuticals• Brave New World: Goodbye MFN, Hello Pipeline• Protein Boom: Be prepared…Survey source: KFF Health Tracking PollImportant Content DisclosuresImportant non-Research Content Disclosures
• Software: In the AI storm 24.02.2026 11mnt

  Software equities sit in the eye of the AI storm, caught at a decisive inflection point as AI reshapes the sector and investors grapple with one of the sharpest valuation resets in years. ​In Episode 20 of the Barclays Brief, Raimo Lenschow, Head of North American Software Research, joins Ronnie Wexler, Global Head of Equities Distribution, to explore what’s driving the sell‑off and why the long‑term software story remains far from written.​The discussion examines the forces behind the recent repricing, from the arrival of real, market‑ready GenAI products to intensifying concerns around hyperscaler CapEx, overbuild risk and shifting competitive dynamics. While headlines point to sweeping disruption, Raimo argues that AI is not ending software — it’s redefining the stack and reshaping where value accrues.​At the centre of the episode is a simple but critical question: as AI accelerates change across software, what genuinely matters — and what’s being overstated?​Raimo and Ronnie also discuss what could shape the sector’s next phase, from how valuations may stabilise to the long, often underappreciated migration timelines that anchor enterprise technology decisions.​Listen in for a grounded perspective on where fear may be overstated, where selectivity matters most, and how investors can think about durability and opportunity as AI continues to reshape the software landscape​Listeners can hear more on this topic:​​Barclays Brief #14 – Rise of the humanoid robots​Barclays Brief #12 – The future of mobility​Barclays Brief #4 – AI revolution: China’s five year plan​Clients can read more on Barclays Live:​Software Is Not Dead, Just Changing ​How to play AI dislocation?​Agentic AI Disruption Risk in Focus​Important Content Disclosures​Important non-Research Content Disclosures
• European Industrials: Recovery or decline? 17.02.2026 9mnt

  European Industrials have underperformed for years, but signs of stabilisation are emerging. In Episode 19 of The Barclays Brief, George Featherstone, European Industrials Research Analyst, joins Patrick Coffey to unpack what the next phase of Europe’s Industrial sector could look like – and where early momentum may be building.​The conversation explores areas of optimism for the sector, from improving consumer spending and housing activity to renewed grid‑infrastructure investment and robust demand for machinery and mining equipment as electrification accelerates.​Despite early signs of improvement, Europe’s outlook remains constrained by deep‑rooted structural challenges – from elevated energy costs to the AI investment gap and intensifying global competition.​Listen in for a timely breakdown of the key themes as investors and companies convene at the Barclays 43rd Annual Industrials Select Conference.Listeners can hear more on this topic:​Barclays Brief #17 - Mining & metals: Meltdown or opportunity?The Flip Side #80 - Is US equities exceptionalism finally cracking?Clients can read more on Barclays Live:​Euro Area Outlook: Europe at Different SpeedsGlobal Industrials: Supply chain reshuffle: what's now and next?European Capital Goods: Year Ahead 2026 - Mean ReversionThis 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.Important content disclosuresImportant non-Research content disclosures
• Japan decides, global markets move 10.02.2026 11mnt

  Japan’s decisive election result is recalibrating market expectations, bringing FX, rates and fiscal policy signals into sharper focus. The LDP’s clear mandate will likely feed through to household demand, BoJ decisions and global moves in rates and FX, with implications for global investors’ near-term portfolio positioning.In this episode of Barclays Brief, Yun Zhang, Co‑Head of FIC Trading, Asia Pacific and Global Head of MTN & Macro Structured Notes Trading, joins host Patrick Coffey to unpack the market reaction and the indicators to watch.Listen in to get a clear, actionable view of how Japan’s post‑election landscape is shaping opportunities for global investors. Clients can also join a Japan post-election webinar to hear timely insights from our Research and Markets experts.Listeners can hear more on this topic:•Barclays Brief #13 – AI: The macro game changer•The Flip Side #77 - Is Japan doubling down on Abenomics, or redefining it?Clients can read more on Barclays Live:•Japan Economic Update – LDP sweeps more than two-thirds •Japan FX and Rates Views - LDP landslide victory to stabilize risk premium•Japan Perspectives - Lower house election preview: Strengthening outlook for LDP landslide 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.Important Content DisclosuresImportant non-Research Content Disclosures
• Metals & mining: Meltdown or opportunity? 03.02.2026 10mnt

  Sharp swings across precious metals, especially gold, have thrust the sector into the spotlight, sustaining investor interest and stirring fresh debate over whether a new supercycle is emerging. Amos Fletcher, European Metals & Mining Research Analyst, joins Ronnie Wexler on The Barclays Brief to unpack what’s driving the moves.A powerful mix of macro and structural forces is at work: shifting Fed rate cut expectations, renewed inflation‑hedging flows, dollar softness and accelerating electrification. Copper sits at the centre of the transition, with EV adoption, renewable build‑out and grid expansion driving demand higher even as supply remains constrained.Amos breaks down the mechanics behind the latest volatility and explains how tightening supply across both industrial and precious metals could shape the next leg of price action. He also explores why, despite recent sell‑offs, stronger strategic conviction is still fuelling a rise in big‑ticket M&A across the industry.Get a clear, accessible guide to the forces reshaping metals and mining and why this corner of the market is becoming increasingly difficult for investors to ignore.Listeners can hear more on this topic:​Barclays Brief #8 Critical Minerals: the new oilBarclays Brief #7 US dollar: AI & the capex cycleBarclays Brief #2 Gold: Unpacking the rallyClients can read more on Barclays Live:​Gold - Pausing for thought26 ‘What ifs’ for 2026European Metals & Mining - What's priced in? 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.