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Market Commentary October 2025

Market Commentary October 2025

Q3 2025 saw positive returns across most major asset classes, with equities and precious metals leading gains.
Market Commentary August 2025

Market Commentary August 2025

July 2025 ushered in renewed optimism across financial markets. Alongside robust US economic data, sentiment was also driven by favourable US trade deals with key partners like Japan, the EU,...
Market Commentary July 2025

Market Commentary July 2025

Q2 2025 saw strong rallies across most asset classes, apart from the US dollar and oil.
Market Commentary June 2025

Market Commentary June 2025

The US and China agreed to a temporary 90-day trade truce, easing fears of an escalating tariff war. This fueled investor confidence alongside the TACO (‘Trump Always Chickens Out’) trade,...
Market Commentary May 2025

Market Commentary May 2025

April 2025 was a tumultuous month for markets, triggered by Trump’s announcement of reciprocal tariffs that triggered a massive selloff in risk assets.
Market Commentary April 2025

Market Commentary April 2025

The global macroeconomic landscape has transformed dramatically since the start of 2025, driven largely by US tariffs and a more aggressive stance towards key trading partners, including historic allies.