The dominant global financial theme was the tension between growth ambitions and fiscal constraints. Markets focused on AI-driven investment, government spending priorities, trade and industrial policy, and central-bank outlooks, while political developments in the UK, US, Europe, and China increasingly influenced. Download PDF
The dominant global market driver was the sharp reversal in energy prices following Middle East de-escalation, improving risk sentiment while leaving long-term geopolitical uncertainty unresolved. Download PDF
If the old adage of 'sell in May and go away' is to hold in 2026, then it really needs to say 'sell at the end of May' because equities posted another bumper month of returns. Animal spirits are alive and kicking and IPO fervour is keeping risk assets on
Despite severe geopolitical conflicts in Ukraine and the Middle East, alongside viral outbreaks, global equity markets defied the "sell in May" adage to hit new record highs in May 2026, driven by an insatiable appetite for semiconductor stocks and fervor surrounding upcoming tech IPOs like SpaceX and OpenAI. This powerful
Global markets were driven by geopolitical de-escalation in the Middle East, persistent inflation and rate uncertainty, and accelerating fragmentation in trade and monetary policy across major economies. Download PDF
Global markets were primarily driven by geopolitics rather than macroeconomic data, with energy security becoming the key determinant of inflation and growth expectations. Download PDF