The start of summer brought a sharp reversal in the crowded momentum and AI trade, triggering a bout of volatility in technology stocks and putting pressure on global equity markets. Then came the usual reminder that markets rarely give us just one thing to worry about. The ongoing conflict in the Middle East added another…

There was a rather interesting development in the currency markets recently one that did not make too many headlines but probably should have. The US and Japanese authorities appear to have stepped in together to support the Yen. Not through a loud, headline-grabbing intervention but through a more coordinated and, shall we say, elegant approach….