Fiera Capital Global Asset Allocation - July 2026 Market Update

In June, sentiment was dominated by both geopolitical developments and evolving trends in Artificial Intelligence. The S&P 500 (-1.1%) retreated, with malaise in the tech space spreading to the Magnificent Seven group of stocks (-8.8%) that represent one-third of the index. Treasury yields rose as a growing chorus of Federal Reserve officials pivoted towards a hawkish stance amid mounting inflationary risks.

In June, sentiment was dominated by both geopolitical developments and evolving trends in Artificial Intelligence (AI). Investors welcomed news of an interim peace accord between the US and Iran and the reopening of the Strait of Hormuz. That saw