Global markets remain trapped in a fragile geopolitical macro regime dominated by the evolving Strait of Hormuz crisis and ongoing US-Iran negotiations.
Key Themes
- Persistent geopolitical risk premium in energy markets
- Oil supply disruption remains the core macro driver
- AI-led equity resilience offsetting inflation concerns
- Bond markets repricing higher-for-longer rates
Bottom Line
Markets continue to stabilize tactically rather than structurally.
Risk appetite remains highly conditional on oil volatility and geopolitical headlines.