Market Update – June 2026

Market Update – June 2026

On the surface, markets looked fine: indices near record highs, earnings strong, the kind of numbers that make it tempting to stop asking questions. But the more you look at what drove those returns, the less straightforward the picture becomes.

Market Update – May 2026

Market Update – May 2026

April was a reminder that war rarely moves markets the way textbooks predict.
The closure of the Strait of Hormuz should, by any traditional reading, have spelled trouble for risk assets. It did, briefly. What happened next is more surprising, and more instructive, than the initial shock.