Market Review – The Cost of Borrowing
September brought higher interest rates across several major economies, rising long-term government-bond yields and another increase in oil prices. With borrowing costs remaining elevated and traditional diversifiers such as gold …
Market Review – Everything Advances, Nothing Resolves
August moved several of the year's biggest investment stories forward without resolving them. Renewed conflict over the Strait of Hormuz, rising concerns over US government debt and another surge in …
Market Review: Proof of Return
Investors started to ask more basic questions about the AI roll out in July. Not whether the technology will matter to the future of the world, but who earns a …
Market Review: A Month of Tests
June was a month in which investors were forced to reassess several long-held assumptions. From geopolitical tensions in the Middle East and changing central bank expectations to questions surrounding AI …
Market Review: The Ceasefire Trade, Food Inflation and AI Concentration
Oil prices fell sharply and equity markets reached new highs during May, but beneath the surface investors continue to face inflation risks, fiscal pressures and unprecedented market concentration. The report …
Market Review: AI Recovery, Energy Shock and the Inflation Wave Ahead
Global equities recovered sharply in April despite continued disruption in the Strait of Hormuz and elevated oil prices. AI-related holdings and Asian markets led performance, while concerns increasingly shifted towards …
Market Review: Energy Crisis, Market Volatility and the Return of Stagflation Risk
A major energy shock drove volatility and raised stagflation concerns. Markets reacted to shifting economic expectations. March was the month that a risk many had been watching from a distance …
Market Review: AI Rotation, Energy Shock Risk and Emerging Market Leadership
AI entered a more selective phase while energy risks increased. Emerging markets continued to lead performance. Global equities delivered another positive month in February, with leadership continuing to broaden beyond …
Market Review: Institutional Risk, Emerging Market Strength and Gold Surge
Institutional uncertainty drove capital shifts. Emerging markets outperformed while gold benefited from safe-haven demand. January was shaped less by economic data and more by events that challenged the institutional foundations …
Market Review: Central Bank Divergence, Commodity Extremes and AI Questions
Diverging central bank policies and commodity extremes defined December. Investors questioned the long-term returns from AI investment. The Regime Shift Unfolds The month began with the US Federal Reserve delivering …
Market Review: AI Volatility, Diversification Benefits and UK Budget Stability
Volatility returned as AI sentiment shifted. Diversification across asset classes supported portfolio resilience. November was a largely flat month overall for investors following a long stretch of gains earlier in …
Market Review: Shutdown Volatility, Gold Surge and AI-Led Market Strength
Political uncertainty drove volatility, but strong AI-related performance supported equities. Gold continued to benefit from risk aversion. The month opened with a US government shutdown after Congress failed to reach …
Market Review: Fiscal Stress, Safe-Haven Gold and AI Exuberance Risks
Fiscal concerns weighed on markets while gold surged as a safe haven. AI valuations began to face increased scrutiny. September began with bond markets questioning the longer-term fiscal credibility of …
Market Review: Labour Weakness, Policy Uncertainty and Commodity Strength
Weak US labour data and political disruption unsettled markets. Gold reached new highs while equities remained resilient despite macro uncertainty. August began with a downward jolt from the United States, …
Market Review: Market Resilience, US Policy Shifts and Emerging Market Opportunities
Markets showed resilience despite US tariff risks and geopolitical tensions. Strong equity performance was supported by AI leadership and emerging market opportunities. In July 2025, financial markets were significantly influenced …
Market Review: Energy Shocks, AI Acceleration and Shifting Global Trade Dynamics
Energy market volatility dominated June as geopolitical tensions drove sharp movements in oil prices. At the same time, accelerating AI adoption continued to reshape market dynamics and sector performance. June …
Market Review: Trade Policy Volatility, USD Weakness and Global Equity Rebound
Trade tensions eased in May, supporting a recovery in global equity markets. A weaker US dollar and continued strength in gold reinforced the importance of diversification across asset classes. Following …
Market Review: Tariff Shockwaves, USD Weakness and a Gold-Led Recovery
Markets experienced sharp volatility following new US tariff announcements before stabilising later in the month. Gold rallied strongly as investors sought protection from currency weakness and geopolitical uncertainty. Global markets …
Market Review: Tariff Shock, European Stimulus and Commodity Strength
Tariff escalation drove volatility in March, while significant fiscal stimulus in Europe supported regional markets. Commodity strength, particularly in gold and copper, played a key role in portfolio performance. March …
Market Review: AI Shifts, Tariff Volatility and Europe’s Rising Influence
AI developments continued to reshape market leadership in February, while tariff tensions and inflation uncertainty weighed on sentiment. European markets showed increasing resilience amid shifting global dynamics. The opening months …
Market Review: AI Disruption, Tariff Volatility and Commodities Strength
Strong US data pushed bond yields higher in January, creating pressure on global markets. Commodities performed strongly, while AI developments introduced new uncertainty into tech valuations. The opening month of …
