Market Update

Executive Summary The Iran war remains the dominant driver of global markets, with energy prices, inflation expectations and central bank policy all heavily influenced by developments in the Middle East. Oil prices remain elevated and highly volatile as markets continue [...]

Executive Summary  The Iran war has become the dominant global macro driver, triggering the largest oil supply shock in decades. • Oil prices have been volatile, spiking sharply before falling on ceasefire hopes — butremaining structurally elevated. • Central banks now [...]

  Executive Summary  Markets have become increasingly volatileas geopolitical risk re-emerges as a key driver. • The Iran conflict has triggered a major global energy shock, pushing oil prices sharply higher. • Central banks remain cautious, balancing falling inflation against rising external risks. • Global [...]

Executive Summary · Markets remain driven by interest-rate expectations, with investors increasingly confident that easing cycles will continue in 2026. · Inflation continues to moderate, though progress remains uneven across developed economies. · Global equities advance cautiously, supported by liquidity [...]

Executive Summary · Markets enter 2026 cautiously optimistic, with rate-cut expectations firmly embedded across developed economies. · Central banks signal patience, balancing easing inflation against fragile growth. · Global equities start the year mixed, supported by policy expectations rather than [...]

BUDGET UPDATE 2025 After months of speculation, UK Chancellor Rachel Reeves presented the Autumn Budget on 26 November, unveiling a substantial £26 billion package of tax increases, alongside targeted spending measures. Her aim? To address the UK’s persistent inflation, rising [...]