Advisors’ Bulletin
Get expert insights into investments and the world market.
Market Review – July 2026
Executive Summary July reversed the core assumptions that drove the April–May advance. The tentative U.S.–Iran ceasefire that markets had begun pricing in early in the month broke down, the U.S. resumed strikes on Iranian targets, and Brent crude gained more than 20% for the month as renewed fighting threatened Middle Eastern energy supplies. That energy […]
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Market Review – June 2026
Executive Summary June 2026 was a month of reversal and rotation rather than continuation. The oil-driven disinflation that began in May accelerated sharply following a mid-month U.S.-Iran peace framework, sending Brent crude down a further ~21% to close near $73 per barrel — its steepest monthly decline since March 2020 and, combined with May’s move, the worst quarterly performance […]
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Market Review – May 2026
Executive Summary May 2026 was the month the Iran war’s grip on commodities finally began to loosen — and markets responded with a measured but broad-based advance. Brent crude fell from above $116 at the start of the month to close below $95 on May 29, delivering the largest single-month oil price decline since the […]
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Market Review – April 2026
Executive Summary April 2026 was a study in markets looking through geopolitical noise to focus on fundamentals. Despite the Strait of Hormuz remaining severely disrupted, Brent crude pushing back above $110 per barrel, and ceasefire negotiations breaking down repeatedly, global equities staged one of the most powerful risk-on rallies in years. The S&P 500 and Nasdaq closed […]
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Market Review – March 2026
Executive Summary March 2026 saw the intensification of the U.S./Israel-Iran military conflict, that began in late February with Operation Epic Fury. The Strait of Hormuz was effectively closed following Iranian defensive operations, producing the most severe oil price shock since the 2022 Russia Ukraine invasion. While markets had rotated defensively in February, March saw broader sector pressure […]
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Market Review – February 2026
Executive Summary February 2026 was defined by geopolitical tension between the U.S. and Iran. Markets shifted to a defensive posture as capital moved from U.S. technology stocks toward international markets and traditional industries. This transition was triggered by the “AI Scare Trade,” where investors sold software and cybersecurity equities on fears that Anthropic’s Claude and similar tools […]
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Market Review – January 2026
Executive Summary January 2026 saw a rotation in global leadership as U.S. large caps trailed both international counterparts and small caps. Fixed income markets grappled with the impact of expansionary policy measures, such as the “One Big Beautiful Bill Act” and heightened Japanese fiscal spending, which pushed yields higher. While the U.S. macro environment held […]
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