Weekly Market Update 13/05/2026

In this Weekly Market Update, we examine the latest geopolitical developments in the Middle East and their impact on global markets. Investors continue to monitor negotiations involving Iran, uncertainty around the Strait of Hormuz, and the broader implications for energy markets and global trade.

Despite ongoing tensions and weaker expectations for a near-term reopening of Hormuz, global equity markets remain remarkably resilient. We explore the key factors supporting markets, including the strength of the US economy, the continued expansion of AI-driven investment, and another exceptionally strong US earnings season.

We also discuss the latest US payroll data, the Federal Reserve outlook, growing concentration within equity markets, UK political developments following the local elections, and the upcoming inflation data that could shape future central bank decisions.

Finally, we look ahead to Jerome Powell’s departure as Federal Reserve Chair and the wider implications for investors navigating an increasingly uncertain global environment.