Markets Weekly podcast (30 March 2026): Spotlight on currency markets

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.

How is the conflict in the Middle East affecting currency markets? Listen in to hear Bhaskar Gupta, our Head of FX Distribution UK, discuss the latest developments in FX markets and the outlook for the major currencies and central bank policy. Julien Lafargue, Chief Market Strategist, also gives an update on events in the Middle East, and highlights why market attention could soon shift from inflation worries to recession risk, if oil shortages materialise.

This week’s podcast features Stephen Moroukian, our real estate financing specialist, for an in-depth look at the latest property market developments. Listen in for expert insights on how the Middle East conflict is affecting UK fixed-term mortgage rates, as well as its potential impact on property prices – in both the UK and the UAE. Stephen also outlines the key changes of the Renters’ Rights Act, which is set to shake up the UK rental market when it takes effect in May. In addition, host Julien Lafargue looks at the wider market impact of the Middle East situation, and whether investment opportunities are emerging after recent market repricing.

As the conflict in the Middle East enters its third week, our latest podcast examines the reaction across equity and bond markets, and the potential scenarios ahead. Julien Lafargue, Chief Market Strategist, is joined by Michel Vernier, Head of Fixed Income Strategy, to discuss the dramatic moves in rates and how the outlook for fixed income markets has shifted, including for private and public credit markets. Meanwhile, Dorothée Deck, Head of Cross Asset Strategy, considers how soaring oil prices have affected equity markets, as well as the potential impact on sectors and regions in a sustained energy shock.

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?