Renewed US–Iran conflict rattled oil markets and stoked inflation fears in July, while a hawkish new Federal Reserve chair reshaped rate expectations. In South Africa, Ramaphosa temporarily halted his impeachment inquiry, xenophobic tensions flared, and Eskom hit a near-decade generation milestone. This month's report unpacks the events shaping markets — and what they could mean for investors going forward.

Global markets experienced heightened volatility in February as geopolitical tensions in the Middle East escalated and investors reassessed risk across asset classes. Despite uncertainty, the broader economic outlook remains resilient, with easing inflation in major economies, shifting investment flows toward emerging markets, and encouraging developments within South Africa’s economy. This blog highlights the key global and local events shaping markets and what they may mean

The JSE All Share Index surpassed 100 000 points for the first time in history. Most other indices also reached all-time highs, but the local market did exceptional.