YOU AM market commentary: June

After a remarkable May, June was a much quieter and more mixed month for investments around the world. The main development was a calming of tensions in the Middle East. The United States and Iran signed an interim agreement mid-month aimed at ending the conflict, which pushed the price of oil sharply lower; Brent crude fell back below $80 a barrel, its lowest level since early March. Cheaper energy helped to ease the worries about rising prices (inflation) that had been building over recent months.

Stock markets were broadly flat to slightly higher, but with big differences between regions. Europe was one of the strongest areas, with European shares (outside the UK) up and reaching new record highs, while Japanese shares also gained.  The US market was slightly positive, but only once those returns were converted back into pounds.  UK shares also gained, with the FTSE All-Share modestly up. Taken together, global shares gained a modest +0.7% over the month and remain up +12.7% so far in 2026.

With inflation worries easing, bonds (loans to governments and companies that pay a set rate of interest) made small gains, with a broad measure of global bonds up +0.4%. The major central banks, including the US Federal Reserve, left interest rates unchanged for now, while making clear they are still keeping a close eye on inflation.

All performance figures are stated in Sterling terms unless otherwise specified.

Any opinions stated are honestly held but are not guaranteed and should not be relied upon.  

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