
June review: The fog of war
June witnessed significant financial market volatility driven by headline risks, including persistent trade tensions despite US assurances and escalating US-Iran geopolitical friction impacting energy markets.
June witnessed significant financial market volatility driven by headline risks, including persistent trade tensions despite US assurances and escalating US-Iran geopolitical friction impacting energy markets.
We look at what has happened in the world of global economics and finance over Q2 2025 and what risks and events may affect markets in Q3 2025.
Economic and US Treasury Market Review.
War in the Middle East, sticky inflation, tariff and budget uncertainty all hit markets in June.
Slowing growth, tariff uncertainties, rising debt, energy worries, and sticky inflation plagues policymakers.
The US-China deal, Iran’s growing threat, and ongoing dollar weakness.
Investors shift on trade uncertainties, rising debt and the end of US exceptionalism.
Economic and US Treasury Market Review.
Tariff uncertainty, the US debt downgrade, and yield steepening hit markets in May.
Despite a strong earnings season, volatility persisted across US equities and was headline driven in May.
Steepening yields and dollar down on deficit concerns.