Market insights

The markets have maintained a cautious approach, influenced by geopolitical tensions in the Middle East, the resilience of US macroeconomic data and rising political uncertainty in Germany following the Saxony state election. In this context, US and emerging market equities have shown a largely stable trend, while European indices have recorded a decline. On the bonds front, government bond yields have risen moderately, supported by the resilience of the American economy and persistent inflationary pressures. Oil prices have continued to rise, approaching the $90 per barrel mark, while the euro-dollar exchange rate has remained largely unchanged, at around 1.16. In the United States, the solidity of economic indicators and the labour market have confirmed the good pace of growth, keeping investor focus firmly on the next moves by central banks. In-depth analysis with . Audio recorded on 7 July 2026. Stay up to date with the latest trends and outlooks in financial markets through Eurizon’s analysis and insights: https://www.eurizoncapital.com/en/market-insights Before listening, please read the warnings outlined on the following page: https://www.eurizoncapital.com/en/video/promo/disclaimer

It was a volatile week in the markets, influenced by renewed tensions in the Middle East and concerns linked to the Strait of Hormuz. Oil recorded a moderate rise, while the euro/dollar exchange rate remained largely stable, a sign that investors still perceive risk as manageable. European and Asian stock markets have shown greater weakness compared to US markets, supported by the resilience of the US economy and the start of the corporate earnings season. Bond yields also rose slightly, reflecting geopolitical uncertainty and inflationary risks.  In the next few days, market focus will primarily be on data relating to inflation and consumption in the United States. In-depth analysis with Stefano Cucchi from Eurizon’s Macro Research & Product Specialist team. Audio recorded on 13 July 2026.   Stay up to date with the latest trends and outlooks in financial markets through Eurizon’s analysis and insights: https://www.eurizoncapital.com/en/market-insights Before listening, please read the warnings outlined on the following page: https://www.eurizoncapital.com/en/video/promo/disclaimer

A positive start to the week for financial markets, driven by the nearing of an agreement between the USA and Iran. This has now been confirmed by both parties, though not yet formalised. Equity markets are up, while government bond yields have edged slightly lower, maintaining a cautious approach. The formal signature of the agreement remains a key focus for markets in the coming weeks. Meanwhile, it remains crucial for investors and central banks to assess the impact of the oil shock on inflation and growth. Attention is already shifting to the details of the deal and the resumption of traffic through the Strait of Hormuz, both of which are key elements for the future stability of the region. Let's take a closer look with Andrea Conti, Head of Macro Markets Analysis at Eurizon. Audio recorded on 15 June 2026. Stay up to date with the latest trends and outlooks in financial markets through Eurizon’s analysis and insights: https://www.eurizoncapital.com/en/market-insights Before listening, please read the warnings outlined on the following page: https://www.eurizoncapital.com/en/video/promo/disclaimer