WEEKLY MARKET REVIEW

Stay Informed with Our Seaspray Private Weekly Financial Market Review

Get the latest insights on global financial markets with our Weekly Market Review. In it we discuss the key financial headlines from the U.S, Europe, UK, Ireland, and Asia-Pacific, along with in-depth analysis of major asset classes, including:

Equities – U.S, Europe, and UK market trends
Bonds – Interest rate movements and fixed-income insights
Commodities – Oil, gold, and other key market drivers

Stay ahead of market trends with our expert insights. Read the latest update now!

Weekly Market Review: 22nd June 2026

The Week in Numbers

Equity Markets

Equity Indices	Value	Weekly Change	YTD Change
S&P 500	7,500.58	+1.85%	+9.57%
NASDAQ	26,517.93	+3.36%	+14.09%
EuroStoxx50	6,293.13	+0.28%	+8.66%
EuroStoxx600	635.61	-0.80%	+7.33%
FTSE 100	10,363.27	-1.82%	+4.35%
ISEQ	13,785.73	-0.05%	+5.24%

Central Bank Interest Rates

Interest Rate	Current Rate	Direction	Rate Change
FED	3.75%	—	0
ECB	2.40%	—	0
BOE	3.75%	—	0

Government Bonds

Fixed Income	Yield	Weekly Change	YTD Change
US 10YR	4.46	-0.40%	+6.20%
US 2YR	4.17	+2.68%	+20.26%
German 10YR	2.93	-0.71%	+1.11%
UK 10YR	4.76	-1.26%	+4.90%
Irish 10YR	3.10	-0.92%	+0.91%

Foreign Exchange Currency Movements

FX	Value	Weekly Change	YTD Change
EUR/USD	1.146	-0.88%	-2.36%
EUR/GBP	0.866	+0.43%	-0.60%
GBP/USD	1.323	-1.28%	-1.78%

Key Events

25/06/2026 – US Core PCE Price Data
25/06/2026 – US GDP Growth Rate (Final Estimate)

The Future of Energy: Investment Trends Driving Global Decarbonisation

In our latest Seaspray Private Financial Data Insight, we examine how global energy investment is evolving as countries accelerate the transition towards cleaner and more secure energy systems. Drawing on data from the International Energy Agency’s World Energy Investment Report 2026, we explore where capital is being allocated across renewable energy, electricity grids, fossil fuels and emerging clean technologies. We also analyse the regions and countries leading the shift towards low-emissions energy generation and highlight how growing demand from artificial intelligence and data centres is influencing investment decisions.

Stay Informed with Our Seaspray Private Weekly Financial Market Review

Equities – U.S, Europe, and UK market trends
Bonds – Interest rate movements and fixed-income insights
Commodities – Oil, gold, and other key market drivers

Stay ahead of market trends with our expert insights. Read the latest update now!

FINANCIAL HEADLINES

United States

The Federal Reserve held its latest policy meeting last week, the first under new Fed Chair Kevin Warsh. As expected, the Fed left interest rates unchanged at 3.50%–3.75%, as the Federal Open Market Committee continues to navigate an uncertain inflation environment. However, the rate decision itself was not the meeting’s main headline. Instead, Chair Warsh used the occasion to outline his priorities for the coming years, with one of the most notable changes relating to the Fed’s policy statement. Historically, this document has not only explained the rationale behind previous policy decisions but has also provided an element of forward guidance regarding the future path of interest rates. Financial markets closely monitor such guidance, often pricing in potential rate hikes or cuts well in advance of official meetings. This forward-guidance component was absent from the latest policy statement, with Chair Warsh confirming that it would not be reinstated. In addition, he announced a comprehensive review of the Federal Reserve’s operating framework.

Europe & UK

In Europe, the European Parliament last week approved the US-EU trade deal, clearing the final major legislative hurdle for its implementation. The agreement, which was initially reached last July, avoids the higher tariffs threatened by President Trump if the deal had not been implemented by 4 July. The United States is now expected to introduce the agreed 15% tariffs on EU goods from 24 July.

In the UK, the Bank of England’s Monetary Policy Committee (MPC) left interest rates unchanged at 3.75%, voting 7–2 in favour of maintaining the current policy stance. The two dissenting members called for a quarter-point increase, highlighting the hawkish tone that continues to influence the Committee. Governor Andrew Bailey stated that the MPC would tolerate above-target inflation but would act if inflationary pressures intensified.

Ireland

Solar capacity in Ireland has risen remarkably in recent years, with Solar Ireland’s latest report showing a staggering 300% increase since 2023. In the 12 months to May 2026, a total of 1 gigawatt of new solar generation capacity was brought online, enough to power the equivalent of 460,000 homes.

Elsewhere, cyberattacks on SMEs in Ireland are estimated to cost the economy €3.6 billion annually, according to research conducted by eir Business. The Hidden Cost of Cyber Risk report found that SMEs lose approximately 7.2 million working days each year as a result of cyber incidents. On average, cyberattacks cost an individual SME around €50,000 per annum, highlighting the growing financial burden posed by digital threats.

Asia-Pacific

The Bank of Japan raised interest rates to their highest level since 1995 as the country seeks to contain inflationary pressures stemming from the conflict in the Middle East. The quarter-point increase, which was widely anticipated by financial markets, brings the policy rate to 1.0%. The decision was approved by a vote of 7–1 in favour of the increase.

Japan has been among the economies most exposed to the energy shock resulting from the closure of the Strait of Hormuz, with higher energy costs contributing to rising inflation. According to the Bank of Japan, inflation is now approaching 2%, bringing it closer to the central bank’s target.

ASSET CLASS REVIEW

Equities

In the United States, equity markets rallied for much of last week, supported by the recent SpaceX IPO, which has seen shares of Elon Musk’s space company rise more than 60% since listing two weeks ago. The company briefly surpassed Amazon to become the world’s fifth-largest listed company and currently has a market capitalisation of $2.52 trillion. Investor sentiment was further boosted by the announcement of a Memorandum of Understanding between the United States and Iran, which would lead to the immediate reopening of the Strait of Hormuz. The development was particularly supportive of markets early in the week, with both the S&P 500 and Nasdaq reaching record highs on Monday. However, sentiment weakened following the Federal Reserve’s policy decision on Wednesday. The S&P 500 and Nasdaq both fell by more than 1% on the day, with a decline of over $1.5 trillion in global equity market valuations. Investors reacted negatively to new Fed Chair Kevin Warsh’s streamlined approach to policy communications, particularly his decision to remove forward guidance from the Federal Reserve’s policy framework. Markets rebounded on Thursday and Friday, and for the week, the S&P 500 and Nasdaq closed 1.85% and 3.36% higher respectively.

In Europe, equity markets rose to fresh record highs following news of the Memorandum of Understanding between the United States and Iran. The agreement lowered inflation expectations across the bloc and reduced expectations for further monetary tightening by the European Central Bank. Futures markets now price in only one additional rate increase before year-end, compared with two increases previously expected. For the week, the Euro Stoxx 50 closed higher, up 0.28%, while the STOXX600 closed -0.80% lower respectively.

In the United Kingdom, the FTSE 100 declined as weakness in the energy and mining sectors weighed on the index. While the agreement between the United States and Iran was broadly positive for market sentiment, it also contributed to a decline of more than 10% in oil prices over the course of the week. This placed pressure on shares of Shell and BP, two of the largest constituents of the FTSE 100. For the week, the FTSE 100 closed -1.82% lower.

Bonds

Global bond yields were mixed last week. In the United States, the 10-year Treasury yield moved lower, settling at 4.46% on Friday. The Federal Reserve’s policy meeting took centre stage, with the 10-year yield briefly touching 4.50% as markets digested the more hawkish tone adopted by new Fed Chair Kevin Warsh. The Fed’s latest dot plot showed that nearly half of policymakers projected at least one interest rate increase in 2026, highlighting growing concerns around the inflation outlook. In the United Kingdom, the 10-year gilt yield moved higher to 4.85% on Friday after Andy Burnham won a landslide by-election in Makerfield last Thursday, setting the scene for a potential leadership challenge against Keir Starmer.

Commodities

Oil prices declined significantly last week as hopes grew that the conflict between the United States and Iran had moved towards a resolution following the signing of a Memorandum of Understanding between the two sides, which will see the Strait of Hormuz reopened. Prior to the announcement, more than 100 oil tankers were reportedly stranded in the Gulf awaiting clarity on shipping conditions. For context, a single Very Large Crude Carrier (VLCC) can transport between 1.9 million and 2.2 million barrels of oil, while the Strait of Hormuz handled more than 50 tanker transits per day on average before the conflict started.

In metals, gold prices traded within a relatively narrow range last week after rallying on news of the agreement between the United States and Iran. Prices eased following the Federal Reserve’s policy meeting, as investors responded to the more hawkish tone adopted by new Fed Chair Kevin Warsh. Gold subsequently stabilised at $4,151 per ounce by the end of the week.

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