Everything you need to know, Simplified! Summary The escalating conflict in Iran kept markets volatile, with Brent crude briefly reaching $120 per barrel (bbl) before ending the week up 10.8%, leaving the Iran war responsible for roughly one-third of the current oil price Rising energy prices pushed short-dated bond yields sharply higher, particularly in the UK, where the two-year gilt (UK government bond) yield has risen 61 basis points (bps) since the end of February as mar

Everything you need to know, Simplified! Summary The conflict with Iran escalated sharply, with drone and missile strikes disrupting traffic through the Strait of Hormuz (a critical passageway for oil supplies), raising the risk of a prolonged regional conflict Energy markets reacted violently, with Brent crude rising to US$108 / barrel (bbl) and UK natural gas surging to £1.57/therm (a unit of British thermal energy, leaving both commodities dramatically higher year- to-date

Everything you need to know, Simplified! Summary Geopolitical tensions surged as the US and Israel launched strikes killing Iran’s Supreme Leader, prompting widespread regional retaliation and raising fears of a major oil supply shock US equities fell amid continued AI disruption concerns and heightened trade policy uncertainty following the US Supreme Court’s tariff ruling In contrast, UK, European and Japanese markets rallied as investors rotated away from US mega cap techn

Everything you need to know, Simplified! Summary European and UK equities reached fresh highs, supported by strong earnings and a continued rotation into cyclicals and ‘old economy’ sectors, as investors broaden leadership beyond US mega-cap technology The US Supreme Court struck down President Trump’s sweeping global tariffs under the International Emergency Economic Powers Act; markets appear comfortable that trade tensions are unlikely to escalate materially in the near te