Commentaries

Volatility remained the dominant theme as markets moved into the fall. Renewed inflation concerns and ongoing tensions in the Middle East weighed on sentiment for another month, with no sign of easing. What set September apart from recent months was the strain that began to show in the bond market. Global government bond yields rose […]

Market Update August kept up with the theme of market volatility, as mid-cycle economic strengthening and an intensifying AI investment supercycle conflicted with the continued geopolitical conflict in the Middle East. Yet, markets proved once again that geopolitical disruption can likely be shrugged off as noise: investors spent much of the month navigating rising bond […]

Market Update July continued the themes of a summer of uncertainties, as global events continue to shape the macroeconomic backdrop, creating new opportunities as well as risks for investors. As the month came to a close, investors remained cautious as US-Iran tensions escalated, and once again shipping through the Strait of Hormuz came to an […]

Market Update June 2026 was defined by a stark divergence between resilient global indices and localized volatility, driven by a shifting geopolitical landscape and a turn in the AI narrative. The month brought a meaningful "broadening" as investors rotated away from dominant mega-cap tech names and toward more defensive and cyclical sectors, with focus shifting […]

Market Update The month of May felt an awful lot like April, and it’s not just the weather. April was a positive month that saw equity markets recover most, if not all, of the March losses stemming from the US-Iran war concerns. Turning the calendar over to May, many market observers were calling for more of a pause. The […]