Geopolitical tensions in the Middle East, particularly the Iran conflict and Strait of Hormuz risks, dominated markets and politics worldwide, driving energy price volatility, shaping economic policy, and overshadowing domestic macroeconomic trends. Download PDF
Two months in, two regimes decapitated. With ten calendar months remaining for 2026 one wonders if there aren’t a few leaders of some questionable regimes mulling over their options right now. It’s not possible to reflect on February without jumping straight to the last day of the month which saw
Geopolitical tensions in the Middle East, particularly the Iran conflict and Strait of Hormuz risks, dominated markets and politics worldwide, driving energy price volatility, shaping economic policy, and overshadowing domestic macroeconomic trends. Download PDF
Here is the NDL Fund Insight for March 2026. Download PDF
February ended dramatically with joint US-Israeli strikes on Tehran killing Ayatollah Khamenei, sparking a repricing of risk assets as oil surged on Strait of Hormuz closure fears and inflation expectations jumped, taking rate cuts off the table. Beneath the geopolitical shock, markets told a broader story: ex-US equities outperformed significantly
The week’s dominant theme across regions was geopolitical energy shock → inflation risk → market volatility, all reshaping expectations for monetary policy and growth globally. Download PDF
The US–Israel strikes on Iran, including the killing of its supreme leader, have sharply escalated conflict and energy risks, provoking global condemnation, fears of wider war, and increased volatility in oil markets and financial conditions. Download PDF
The dominant financial theme was a sharp escalation in global trade tensions driven by new US tariffs, which disrupted global supply chains, weakened trade outlooks, and reshaped relative competitiveness between major economies. Download PDF
Global markets were increasingly driven by political developments, especially Japan’s election stimulus, UK political instability, and China’s Treasury positioning, while resilient economic growth and AI-led equity strength supported overall market performance. Download PDF