BI-ANNUAL REPORT 2026
Economic Events & Outlook - 30th June 2026
The first half of 2026 has seen continued volatility due to rising geopolitical tension, but markets enjoyed strong returns, driven by underlying earnings growth and the continuing AI buildout.
Ultimately, the impact on markets from rising oil prices from the war in Iran was less severe than feared, even as the Strait of Hormuz remained either closed or, at least, very difficult to traverse for most of Q2 2026. Brent Crude rose from c.$60 a barrel to c.$110 a barrel but returned to c.$70 a barrel by 30th June. Ultimately, the US reached a ‘memorandum of understanding’ with Iran and the markets’ sanguine approach to this conflict has so far proved correct.
Read the full Bi-Annual report below:
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