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US markets continued to hover at all-time highs as inflation data was in line with expectations, Wall Street bank results came in strong and the AI narrative remained in play with impressive results from TSMC. Other significant events included China releasing robust domestic data and Trump signing off on the Genius Act, which is a […]

Last week markets hit all time highs as US announced a ceasefire between Iran & Israel. Markets have shifted their focus back to the big, beautiful bill as Trump aims to pass this before Independence Day. Attention also moved back towards trade talks as US-Canada talks hit a speed bump and US-China talks progressed, albeit

The Middle East conflict escalated last night with the US bombing multiple nuclear sites in Iran. Crude oil could see a further spike in prices depending on the extent of retaliation by Iran, and markets are likely to be in risk-off mode.

Donald Trump reignited the trade war as he announced tariffs unilaterally for several countries, including the biggest US trade partners Mexico, Canada & the European Union. Financial markets seemed to be unaffected by the news flow, as they remained at all-time highs and Nvidia became the first company to hit a $4 trillion market cap. 

Economic and policy risk were at least temporarily relegated to secondary status as geopolitical risk emanating from the war between Israel and Iran took centrestage. We expect financial markets to be in ‘risk off’ mode until clarity emerges about the extent and duration of damage caused by the conflict. Oil prices, in particular, are in

Last week, the S&P 500 crossed 6,000 marking a bull market in a drama filled week which included a public spat between Donald Trump and Elon Musk and the first direct talks between the US president and the Xi Jinping since Liberation day.

Trump’s tariff strategy faces an unexpected speed bump, his “big, beautiful bill” awaits Senate approval and as the 90-day tariff pause deadlines comes closer, the Trump administration has started to get frantic with aggressive statements on China & Europe.

Last week started off with a détente in the US-China trade war sending global stocks soaring and US indices paring 2025 losses. Soft US data continued to disappoint, but hard data remains resilient. On Friday, US credit rating was downgraded by Moody’s to Aa1. History suggests that the effect, if any, will be short-lived.

Markets had a relatively calm week. The tone was somewhat optimistic as the Fed acted in line with expectations and there were indications of progress on trade negotiations. The UK was first off the block on May 8th, and was followed yesterday by the all-important agreement with China to keep tariffs at 30% for the