1. Trump blockade and failed talks - long lasting effects The US and Iran have failed to close a deal regarding the re-opening of the Strait of Hormuz. In response, Trump has announced a naval blockade of the Strait, with an intention of intercepting vessels heading to or from Iranian ports and clearing mines laid in the waterway. By doing this, Trump has threatened to cut off Iran's oil exports and end its practice of charging ships a toll to pass, stripping Tehran of the economic leverage...

Market volatility punctuated the start of 2026 and is continuing into February across all equity markets, with even the star of 2025, precious metals, not shielded from the storm.

After three consecutive interest rate cuts, investors now face an increasingly uncertain US monetary policy outlook for the year ahead.