October 2026 Budget Update
Executive Summary The Chancellor John Healey delivered his first Budget on 28 October 2026, setting out the government's plans for taxation, public spending and economic growth under Prime Minister Andy Burnham. The Budget comes at a difficult time for the [...]
October 2026 Market Update
Executive Summary The Iran conflict continued to dominate the economic outlook, with renewed disruption to energy supplies pushing oil prices higher and increasing the risk of persistent inflation. The Federal Reserve held interest rates at 3.75%–4.0%, while the Bank of [...]
September 2026 Market Update
Executive Summary Markets became more cautious in September as the prolonged Iran conflict pushed oil prices higher and revived concerns about inflation and interest rates. The Bank of England held Bank Rate at 3.75%, while the Federal Reserve unexpectedly raised [...]
August 2026 Market Update
Executive Summary Global equity markets continued to perform reasonably well through August, despite renewed geopolitical tensions at the end of the month. The Iran war remains the dominant external risk, with renewed fighting at the end of August pushing Brent [...]
July 2026 Market Update
Executive Summary Global markets continued to recover during July as investors looked beyond geopolitical headlines and focused once again on economic fundamentals. Andy Burnham became the UK's new Prime Minister, with financial markets reacting positively to the prospect of policy [...]
June 2026 Market Update
Executive Summary • Markets became noticeably calmer during June despite continued geopolitical uncertainty. • Oil prices fell significantly from their spring highs as hopes of a lasting ceasefire between the United States and Iran improved sentiment. • Prime Minister Keir [...]