The summer months confirmed the ability of financial markets to absorb a succession of significant shocks. Renewed tensions in the Middle East, oil price volatility, a more restrictive stance from the Federal Reserve, and a sharp rise in bond [...]

June was characterised by two clearly distinct phases. During the first half of the month, the escalation of the conflict in the Middle East and tensions in the Strait of Hormuz increased pressure on energy prices and heightened the [...]

May was marked by a strong recovery across global financial markets, supported by renewed risk appetite and an overall positive corporate earnings season. After an initial phase still influenced by geopolitical tensions in the Middle East, the gradual improvement [...]

In April, financial markets staged a strong recovery following the weakness seen in the previous month, although they remained within a complex global environment marked by significant geopolitical tensions. Investor sentiment improved significantly thanks to an earnings season that [...]

March marked a clear shift compared to the beginning of the year, highlighting a market environment that has become significantly more complex and unstable. While in previous months attention had been focused primarily on inflation and monetary policy, in [...]

February developed in continuity with the start of the year, albeit with increased volatility and growing selectivity among investors. The environment remains driven by the trajectory of inflation, the evolution of monetary policies, and the resilience of global growth, [...]

The year 2026 opened with global markets broadly positive, albeit with higher volatility compared to the end of 2025. The overall backdrop remains constructive, with investors still oriented toward risk, but increasingly selective across sectors, regions, and asset classes, [...]

December marked the end of a positive 2025 for global financial markets, but also the emergence of a more cautious attitude on the part of investors. After a year characterized by widespread returns across almost all asset classes, the [...]

November 2025 ended in a context of growing caution across global financial markets, marked by elevated volatility and mixed signals among the major economic regions. Investor attention remained focused on monetary policies, particularly on the upcoming decisions of the [...]

General scenario September confirmed the constructive tone of global financial markets, in a context dominated by optimism for more accommodative monetary policies and good corporate results. US stock indices reached new all-time highs, supported by the Federal Reserve's first [...]