The dominant force in markets during May was the slow, uneven progress of ceasefire negotiations between the United States and Iran. Oil held above $100 a barrel for much of the month, pushing US consumer inflation to 3.8% year-on-year, its highest reading since 2023. The Federal Reserve, now under Kevin Warsh, held rates at 3.75% and offered no forward guidance. A cut by June, which many had expected earlier in the year, is no longer on the table. The tone shifted in the second half of the...

In this episode of Wisdom Shared, Senior Investment Manager Harry Children and CIO Fahad Hassan explore why equity markets are near all-time highs despite geopolitical tensions, higher oil prices, and sticky inflation.

Yesterday, Charlie Parker and Fahad Hassan led our latest market drop-in. Despite ongoing geopolitical tensions, sharp moves in energy markets and a highly uncertain political backdrop, corporate earnings are continuing to deliver positive surprises. If you weren’t able to attend, you’ll find below a concise overview of the key themes currently driving markets and shaping our thinking.