Everything you need to know, Simplified! Summary Markets rebounded despite volatility, with equities and bonds both gaining as optimism around a potential ceasefire in the Middle East improved sentiment Price action remains reactive, with markets at times driven more by headlines and Truth Social than underlying fundamentals Beneath the surface, fundamentals are holding up, with resilient economic data and expanding corporate margins Sector leadership reflected the conflict,

Everything you need to know, Simplified! Summary Volatility rose sharply, with the VIX Index at its highest since 2025, as Middle East developments dominated a quiet data week Equity and credit markets remained resilient despite the shock, suggesting a benign growth and inflation outlook is still being priced Continued weakness in UK government bonds saw yields move higher on fears of a more persistent inflation impulse Markets are now pricing two conflicting narratives: resi

Everything you need to know, Simplified! Summary Geopolitical risk remained elevated as the conflict between the US, Israel and Iran intensified, disrupting energy markets and keeping investors focused on the risk of a prolonged shock to oil and gas supply through the Strait of Hormuz Global equity markets declined as rising energy prices, renewed inflation concerns and mixed central bank communication weighed on sentiment, with US equities leading declines, though energy sto

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