March 2026 Market update

Overview

Markets had a turbulent quarter, with several major indices rallying to all-time highs at the start of the year before sentiment deteriorated following the US-Israeli attack on Iran.

Subsequent Iranian attacks on energy assets in the region led global markets to decline, falling 5.4% in March and ending the period 3.2% lower. This looks like it could be a short-lived correction however, with the ceasefire announced on 8 April taking markets back into positive territory for the year, with Oil down 16% and equities rallying.

Every major asset class fell over the quarter – higher inflation expectations hurt bonds and equities alike – while Gold was under pressure after a strong run.

Full update below…