Q1 2026 marked a decisive shift in market leadership as inflation and geopolitical tensions replaced liquidity and AI enthusiasm as the primary drivers of asset prices. Commodities surged, bonds and equities faced renewed volatility, and long-term opportunities in critical minerals and food security became increasingly compelling.

March 2026 saw a sharp repricing of global risk as escalating conflict in the Middle East triggered a major energy shock, reignited inflation concerns, and weighed heavily on equities, bonds, and business sentiment.

February’s markets appeared strong on the surface, yet beneath the headline returns a growing divergence between regions, sectors and investment styles is reshaping the investment landscape.

October saw risk assets climb as a tentative US–China trade truce and moderating inflation bolstered optimism. The Fed’s measured tone and resilient earnings supported equities, though valuations remain stretched.