Jeremy Richardson from the RBC Global Equity team discusses the most recent earnings season and some of the issues that investors should be thinking about as we head towards the end of the year. Highlights: Generally positive end to the most recent reporting season. Continued expenditure and investment into artificial intelligence helping the US to outperform global equity markets last quarter. The full impact of tariffs could still become apparent in the last quarter of 2025 and cause disruption. Equity investors need to keep an eye on bond markets amidst concern at the amount of government spending and the size of budget deficits.