news & Insights

In July, global markets remained volatile amid competing drivers: recurring US–Iran geopolitical tensions, repricing of Fed policy expectations, and a heavy slate of earnings releases. Compared with June, the marginal impact of US–Iran developments on oil, gold, and...

In June, global markets turned more volatile as geopolitical tensions eased temporarily and Fed policy expectations were repriced. US-Iran negotiations progressed, and a ceasefire memorandum was signed mid-month, quickly erasing the geopolitical premium in commodities...

In May, the Israel–Iran conflict entered its third month. While a fragile ceasefire largely held, intermittent frictions persisted, and negotiations remained stalled with both sides entrenched. Key disagreements center on control of the Strait of Hormuz and the...

In April, the US–Israel–Iran conflict remained a key driver of global markets. After an initial ceasefire and inconclusive talks in Pakistan, the US imposed a comprehensive blockade of the Strait of Hormuz, forcing Iran back to negotiations while largely halting...

In March, escalating military conflict between the U.S., Israel, and Iran, alongside ongoing diplomatic tensions, made Middle East geopolitical risk the dominant global market driver. U.S. and Israeli strikes triggered stronger-than-expected Iranian retaliation,...

In February, FOMC minutes revealed internal divergence regarding monetary policy. While most officials maintained a neutral stance, hawkish members advocated for "two-way flexibility," noting that persistent inflation might necessitate further rate hikes....