12 May 2026
Not normal, but welcome – Download Chart of the week
The Market Place – Download Market Data
- Markets increasingly priced a “higher-for-longer” US interest-rate environment driven by energy inflation, tariffs, and geopolitical risk.
- UK markets remained sensitive to political instability, with investors increasingly focused on the risk of fiscal and policy uncertainty following Labour’s electoral setbacks.
- The eurozone faced a difficult mix of slowing growth and persistent inflation, increasing expectations that the ECB would maintain a hawkish stance.
- China’s trade resilience provided some support to global growth expectations, but investors remained cautious. Japan’s macro challenges remained defending currency stability while avoiding excessive tightening that could weaken growth.
