Markets Weekly podcast (2 March 2026): Investor implications of conflict in Iran

In this week's podcast, Michel Vernier, Head of Fixed Income Strategy, joins host Julien Lafargue to reflect on the bond markets in 2025 and provide insights on what will be the driving forces in 2026. They discuss if central banks are done with interest rate cuts and if the bond markets are too complacent about the inflation outlook. Additionally, they explore what large-scale, AI-related capital expenditure means for credit markets.

This week, Sonia Fernandes, our UK government relations and policy specialist, delves into the latest developments in UK politics – including the evolving relationship with the US, last week’s Spring Statement and the increasing uncertainty surrounding the future of the country’s leadership. Host Julien Lafargue, Chief Market Strategist, also gives an update on the conflict in the Middle East, from the potential impact of soaring oil prices to whether now could be a good entry point for investors.

In this week’s podcast, Julien Lafargue, our Chief Market Strategist, discusses the joint attack on Iran by Israel and the US over the weekend, and the potential implications for global markets.

Does recent volatility among software stocks signal a significant risk for the credit market? Michel Vernier, Head of Fixed Income Strategy, and Aleks Devic, Fixed Income Specialist, join Julien Lafargue to explore recent price action, examine the headlines about redemption limitations within private credit markets and to discuss how investors can build a sustainable credit portfolio.

In this week’s podcast, Nvidia’s Simon See, joins host Julien Lafargue to reflect on the impact artificial intelligence and what his AI research work at the company suggests could happen next. Given that AI tailwinds that powered the market higher have turned into headwinds recently, we hope you find this informative.

In this week’s podcast, Michel Vernier, Head of Fixed Income Strategy, joins host Julien Lafargue to reflect on recent central bank rate-setting meetings. What can we expect from the US Federal Reserve (Fed), European Central Bank and the Bank of England over the next few quarters? How did bond markets react to Kevin Warsh’s nomination as the next Fed chair? And what does Japan’s recent election result mean for investors?

In this week’s podcast, Stefano Mascoli, Head of FX and Capital Markets in Monaco, joins host Julien Lafargue to discuss the drivers behind the recent sharp moves in currency markets. Are investors witnessing a structural shift in the US dollar? How much further could the yen rally? And what role did the prospect of a coordinated US–Japan intervention play in markets?

The US economy is creating far fewer jobs, but is this just a temporary soft patch? Lukas Gehrig, our Head of Quant Macro and Thematic Strategy, joins host Julien Lafargue, Chief Market Strategist, to delve into the trends shaping the US labour market – from tougher immigration and shifting demographics to advances in artificial intelligence – and why they matter for investors.

In this week's podcast, Dorothée Deck, Head of Cross Asset Strategy, joins host Julien Lafargue to discuss how market leadership is broadening across companies, sectors and regions. They cover what’s driving this shift, why investor sentiment remains fragile, and why earnings delivery is becoming increasingly important. They also preview the key themes for the Q4 reporting season – from AI‑related productivity to capex trends and the durability of mega-cap earnings – and share early insights from US bank results.

In this week’s podcast, Ivelin Stankov, Investment Strategist, joins host Julien Lafargue to discuss cryptocurrencies. Is Bitcoin a form of digital gold? What role can Bitcoin play in portfolios? And what should investors expect from Bitcoin and other cryptocurrencies in 2026 and beyond?