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The US mid-term elections, which ended in a clear victory for the Democrats, triggered profit-taking in technology shares, hitting US stock markets and emerging markets particularly hard. Conversely, Europe showed greater resilience, ending the week with slightly positive returns thanks to its lower exposure to the tech sector. With regard to bonds, the fall in oil prices, with WTI back at around...

‘The Globe’, Eurizon's view. The baseline scenario assumes the continuation of the global economic cycle, supported by investments in technology, defence and infrastructure. Pressure on commodity prices is having a limited impact on core inflation, whilst market attention remains focused on geopolitical developments, the US mid-term elections and French politics. Discover Eurizon's positioning for...

In the week from 19 to 25 October, stock markets posted a modestly negative performance, weighed down by ongoing geopolitical tensions and volatility in the tech sector as the peak of the earnings season approaches. Meanwhile, the US and German bond markets posted gains, rebounding following the marked repricing of monetary policy expectations seen in recent months. Pressure on the French spread c...

US share markets ended the week lower, weighed down by profit-taking in the technology sector, whilst European markets proved more resilient. Emerging markets recorded sharper falls, of close to 5%. With regard to bonds, US yields fell despite higher-than-expected inflation figures, thanks to the Fed’s less hawkish stance. European yields and spreads, meanwhile, remained stable , against a backdro...

In the week of 5–11 October, US share markets closed higher, buoyed by positive corporate results and confirmation of the strength of the US economy, whilst European stock markets recorded slight declines in the face of ongoing political uncertainties. With regard to bonds, US yields fell marginally, whilst European rates rose slightly, with the BTP-Bund and France-Germany spreads remaining largel...

‘The Globe’, Eurizon's view. The baseline scenario assumes the continuation of the global economic cycle, supported by investment cycles in technology, defence and infrastructure, capable of offsetting the restrictive impact of the energy shock and rising interest rates. The focus on geopolitical developments is set to intensify as the US midterm elections approach. Discover Eurizon's positioning...

During the week 21-27 September, financial markets showed a solid degree of resilience, supported by the progress made in US-China talks and stabilisation of oil prices. On the macroeconomic front, the United States has continued to show solid growth, supported by the acceleration in PMI indices, whereas more gradual signs of improvement emerged in Europe, which were hampered by the impact of ener...

During the week of 14-18 September, financial markets showed strong resilience: global equity markets remained largely stable despite geopolitical tensions, high oil prices and political uncertainty in Germany. The Fed raised interest rates by 25bps, reaffirming a cautious and restrictive approach to counter persistent inflation. Bond yields remained elevated but stable, while the dollar strengthe...

The markets have closely followed geopolitical tensions in the Middle East, which have pushed WTI crude oil above $100, fuelling inflation fears. Equity markets have shown resilience, closing slightly lower, while bond markets have suffered due to rising yields. The ECB has increased rates by 25bps to counter persistent inflation. In the United States, inflation remained at 3.4% year-on-year in Au...

The markets have maintained a cautious approach, influenced by geopolitical tensions in the Middle East, the resilience of US macroeconomic data and rising political uncertainty in Germany following the Saxony state election. In this context, US and emerging market equities have shown a largely stable trend, while European indices have recorded a decline. On the bonds front, government bond yields...

Global equity markets ended the week little changed, but with a slight gain, primarily driven by the recovery in technology stocks. Investor focus has been on the speech made at Jackson Hole by Federal Reserve Chairman Kevin Warsh, who seems credible in his commitment to tackling inflation. This has reinforced expectations of further interest rate hikes by the end of the year, while at the same ti...

‘The Globe’, Eurizon's view. The reference scenario sees the continuation of the global economic cycle. Investment in technology remains a robust pillar of support for economic activity. The resurgence of tensions in the Middle East and questions over the sustainability of profits in the technology sector are causes for concern. In August, the thinning of trading volumes will expose the market to...

The week was marked by greater caution in the markets due to tensions in the Middle East and the potential risks to energy flows through the Strait of Hormuz. Oil prices rose without reaching alarming levels, whilst the euro-dollar exchange rate remained stable. The major stock markets closed lower, with weaker performances in Europe and emerging markets, while profit-taking in the technology sect...

It was a volatile week in the markets, influenced by renewed tensions in the Middle East and concerns linked to the Strait of Hormuz. Oil recorded a moderate rise, while the euro/dollar exchange rate remained largely stable, a sign that investors still perceive risk as manageable. European and Asian stock markets have shown greater weakness compared to US markets, supported by the resilience of th...

Positive week for financial markets , with both the S&P 500 in the US and major European stock exchanges posting gains. The fall in oil prices and expectations of less restrictive monetary policies have boosted investor confidence. In the United States, the economy continues to show solidity , with industrial activity expanding and the labour market remaining resilient. In Europe, June inflati...

‘The Globe’, Eurizon's view. The reference scenario sees the continuation of the global economic cycle. Investment in technology remains a robust pillar of support for economic activity. The fall in oil prices points to a likely further fall in inflation and provides further support for the economic cycle. Discover Eurizon's positioning for July 2026 with Andrea Conti, Head of Macro Markets Analys...

The markets have taken a positive turn tone thanks to the easing of tensions in the Middle East following the agreement between the US and Iran, wich contributed to a decline in oil prices. The US economy has confirmed its solidity, with retail sales exceeding expectations and consumer spending remaining robust. The Fed has left interest rates unchanged, whilst maintaining a cautious stance and si...

A positive start to the week for financial markets, driven by the nearing of an agreement between the USA and Iran. This has now been confirmed by both parties, though not yet formalised. Equity markets are up, while government bond yields have edged slightly lower, maintaining a cautious approach. The formal signature of the agreement remains a key focus for markets in the coming weeks. Meanwhile...

Over the past week, financial markets have shown weakness due to tensions between Israel and Iran and strong US labour data. The resilience of the US economy has heightened fears of a Fed that remains inflexible on interest rates, triggering profit-taking, particularly in the US technology sector. European indices limited their losses thanks to lower exposure to tech stocks, while emerging markets...

‘The Globe’, Eurizon's view. The scenario assumes the continuation of the global economic cycle, supported by investments in technology. In the event of a US-Iran agreement, there is room for a decline in oil prices; however, central banks remain vigilant to contain any second-round effects on inflation. Discover Eurizon's positioning for June 2026 with Andrea Conti, Head of Macro Markets Analysis...

The week was positive for the markets, thanks to the absence of new tensions in the Middle East and progress in negotiations, which seem to be moving closer to an agreement. The drop in oil prices, back to around 90 dollars, has supported both equity markets and government rates, with a marginal decline in yields. The dollar has weakened against the euro, reflecting a context of reduced risk avers...

Global equities were weak over the week, following a highly positive earnings season. The lack of developments in Iran and rising inflation expectations, driven by WTI crude oil prices rising again over one hundred dollars per barrel, have resulted in significant increases in government bond yields. Oil prices and the future trajectory of inflation, which, after all, remain the core focus of centr...

Global equity indices closed moderately higher, supported by the continuation of talks in the Middle East and the parties’ willingness to avoid further military escalation, at least for now. After the markets initially responded positively to the US proposal, WTI crude oil prices have since quickly rebounded to around $100 per barrel following Iran’s rejection. The uncertainty over the resolution...

‘The Globe’ , Eurizon's view. The scenario assumes the continuation of the global economic cycle , with a further decline in oil prices . The structural cycle of technological investments is acting as a support, compensating for the political instability. Discover Eurizon's positioning for May 2026 with Andrea Conti , Head of Macro Markets Analysis. Audio recorded on 28.4.2026. Stay up to date wit...

Investors remain focused on the crisis in the Middle East: anticipation of the outcome of negotiations, combined with the slight rise in oil prices, has marginally weakened European equity markets. In the US, meanwhile, the S&P 500 has reached new highs thanks to the strong performance of quarterly earnings. Emerging markets indices were also positive. Slight rise in government rates, in both...