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

Everything you need to know, Simplified! Summary Global equity indices moved only modestly lower, but beneath the surface markets saw a sharp rotation as investors reassessed AI winners and losers, with financial services replacing enterprise software as the latest focus of disruption fears Wealth management, insurance and broader financial stocks sold off as markets adopted a ‘shoot first, ask questions later’ stance toward businesses seen as exposed to automation, leaving t