Monthly Wrap-Up

Global Equities Wobble as Geopolitics and AI Jitters Snap the Rally Global equities slipped for only the second time in fifteen months (MSCI World -0.7% MoM), though they remain up 9.7% YTD. June was defined by geopolitical volatility, as US forces struck Iranian targets before an interim peace deal reopened the Strait of Hormuz, sending […]

Strong Earnings and Easing Oil Tensions Underpin Global Rally Developed markets (MSCI World) returned +4.6% MoM (+10.5% YTD), led by the S&P 500 (+5.3%) on the back of robust Q1 earnings. Approximately 85% of reporting companies beat earnings estimates, with earnings growth tracking at +28.6% YoY. Japan’s Nikkei surged +9.0% as the AI chip frenzy

Global Growth Resilience Tempered by Rising Risks Global growth exceeded expectations in Q1 2026, supporting the soft-landing narrative as inflation eased and economic activity surprised on the upside. AI-related capital expenditure remained exceptionally strong, fiscal support continued to underpin demand, and US business confidence improved for the first time in over a year. US Q1

Middle East Conflict Reshapes the Global Economic Landscape March 2026 was marked by escalating tensions involving the US, Israel, and Iran. Airstrikes targeting Iranian oil infrastructure, coupled with disruptions near the Strait of Hormuz, drove Brent crude prices sharply higher, well above levels seen earlier in the year. Global equities came under notable pressure, with

Global Markets: AI Concerns Drive Rotation Away from US Growth Global equity markets delivered modest gains in February, with the MSCI World Index rising +0.7% MoM, despite a –0.8% MoM decline in the S&P 500. A key theme was the continued rotation away from US growth stocks toward global value shares. Value outperformed meaningfully, advancing

Global equity markets began 2026 on a positive footing, with the MSCI World Index rising +2.2% in January, although returns masked a pronounced rotation in market leadership. Value stocks significantly outperformed growth, with the MSCI World Value Index gaining +4.7% MoM while the MSCI World Growth Index declined –0.3% MoM. Earnings season contributed to volatility

Global equities closed 2025 on a strong note, with developed markets gaining +0.8% in December and +21.1% for the year. However, market leadership shifted away from the US toward Europe and emerging markets. European equities surged into year-end, with the Euro Stoxx 50 rising +3.4% in December and outperforming US markets by +21% in USD

1. Global Equity Markets Developed market equities staged a late surge in November, enabling the MSCI World Index to close the month slightly higher (+0.3% MoM), marking the eighth consecutive month of gains and pushing global equity returns to +20.6% year to date. Momentum faded in the mega-cap technology space, with both the Nasdaq and