Quarterly report
Middle East conflict injects volatility into markets. Bonds and “new defensives” when sentiment is weak, but markets returning to secular themes on de-escalation narratives: AI infrastructure, governance reform and EM.
Key highlights:
- Injecting uncertainty into what was robust macro
- What is rising volatility telling us?
- Conflict of commodity prices – risk premiums likely to persist
- Fixed Income – case for nominal bonds and linkers in stagflation
- What is defensive equity in 2026?
- How reliable were safe havens through March?
Published quarterly, this report covers:
- The most impactful macro indicators in the current market environment
- A cross-asset comparison covering rates, credit, equities, listed alternatives, commodities, and currencies
- Insights on market shifts and their implications for multi-asset portfolio construction
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