Commodity allocations in a volatile landscape

The macro environment since the start of 2025 has become increasingly difficult to navigate. The latest developments in the Middle East, combined with shifting trade policies and persistent inflation, are creating a more volatile backdrop for investors. Energy markets sit at the centre of this. Sudden price movements feed directly into inflation expectations while also affecting supply chains, corporate profitability and currency stability. These interconnected pressures are reinforcing a broader theme: shocks are becoming more frequent, and their effects are more difficult to offset. ...