In June, global financial markets reflected a complex interplay of technological strength, geopolitical risks, and varied economic conditions. US equities excelled, with the S&P 500 rising by 5.1% and the NASDAQ gaining 6.6%, driven by robust technology sector earnings in AI, cloud computing, and semiconductors, despite supply chain pressures impacting other sectors. In Europe, the Euro STOXX 50 declined by 1.1% amid rising inflation and tighter monetary policy signals. The FTSE 100 remained unchanged, supported by stable UK economic data. In fixed income, bond yields eased modestly over the month, with the US and UK 10-year yields declining by 17 and 16 basis points respectively, driven by lower-than-expected inflation figures and central banks signalling a dovish tone in the market. Brent crude oil rose by 8.0% amid Middle East supply concerns, while copper surged by 7.9%. The US dollar exhibited notable weakness in June. Both the pound and euro were up against the US dollar by 2.0% and 3.9% respectively.

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