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Executive Summary April 2026 delivered strong global equity returns, as markets recovered sharply from March’s geopolitically driven selloff. The MSCI All Country World IMI rose 10.12%, [...]

Executive Summary Markets traverse through distinctive macro-economic environments, each shaped by combinations of risk appetite, growth, inflation, and monetary conditions. Using a [...]

Executive Summary March was a challenging month for global markets, as the escalating US-Israel conflict with Iran and the near-total shutdown of oil flows through the Strait of Hormuz sent [...]

Executive Summary February delivered mixed equity returns, with Asia and EM once again leading decisively while US equities were mixed. The MSCI All Country World IMI rose 1.58%, while the MSCI [...]

Executive Summary Recent strength in the Singapore equity market has understandably prompted investors to question whether globally diversified portfolios remain necessary, particularly after two [...]

Executive Summary  January delivered strong global equity returns, but with clear dispersion. Asia and Emerging Markets (EM) led decisively, while the US lagged amid elevated policy and [...]

Executive Summary  December was a mixed but calmer month compared to October and November. Markets initially rose on expectations of an interest-rate cut, pulled back after the Federal Reserve [...]

Executive Summary The US military operation in Venezuela on 3 January 2026 is geopolitically dramatic but economically minor, given Venezuela’s very small role in the global economy. Venezuela [...]

Executive Summary  November 2025 was turbulent with a late recovery. Markets entered the month on a dour mood following a “hawkish cut” from the Federal Reserve, and AI-sector specific news added [...]

Executive Summary  October 2025 saw global markets reach new all-time highs despite a volatile start marked by trade tensions between the US and China. Swift diplomatic efforts helped restore [...]