Weekly Market Recap · Global Markets · Monthly Deep Dives

Yield & Reason

A weekly recap of current market events — stocks, bonds, commodities and macro — with a deeper analysis piece every month.

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AI · Equities · Petrodollar · Bonds · Switzerland

The Gap Between What Markets Price and What the World Is Doing

Six AI names are carrying the S&P 500 to record highs while the equal-weighted index is flat. Gulf sovereign wealth is beginning to retrench. The petrodollar machine that quietly supported global asset prices for 40 years is slowing.

Equities Geopolitics Macro Switzerland

Oil · Ceasefire · Bonds · Equities · Switzerland

Priced for Peace, Positioned for Shock

Brent at $109, bonds selling off and equities in limbo. What the futures curve is really telling us — and where we think this goes.

Commodities Geopolitics Equities Macro

Oil · Ceasefire · Bonds · Equities · Switzerland

Markets push higher despite fragile geopolitics

Just as markets appeared to be moving in a constructive direction — with the S&P 500 at new highs, softer oil prices and firm gold — geopolitical tensions resurfaced over the weekend.

Commodities Geopolitics Equities Macro

Oil · Ceasefire · Bonds · Equities · Switzerland

The Ceasefire That Changed Nothing

A ceasefire was announced. Oil crashed 13%. Then reality returned. Hormuz is still closed, infrastructure is still damaged, and the supply shock is more structural than the futures market admits.

Commodities Geopolitics Equities Macro

Oil · SNB · Bonds · Macro

The Month Markets Won't Forget

Iran's Hormuz toll system in yuan, Brent at $112, and a market disconnect that has to close. Plus the SNB at zero, duration risk explained and our probabilistic take on what comes next.

Commodities Fixed Income Equities Macro

Edition 06 — publishing week of 18 May 2026. Subscribe above to receive it directly in your inbox.