Global Weekly Kickstart

Global equities faced a sell-off last week as robust labor data pressured rate expectations. Despite rising supply, the outlook for US equity issuance remains supported by strong corporate demand.

Key Takeaways

• 1.Global equities declined by over 2% last week as strong US labor data fueled expectations of further monetary tightening.
• 2.Goldman Sachs economists delayed the final two Fed rate cuts to June and December 2027 and raised year-end US 10-year yield forecasts to 4.4%.
• 3.US equity issuance is trending toward a record year in 2026, though strong investor demand is expected to absorb the new supply.

Table of Contents

• Equities Digest Higher Rates and Rising Supply
• Macro data this week
• Corporate equity demand should outweigh record IPO supply in 2026
• The week at a glance — Global markets and indices
• Forecasts
• Risk and Sentiment indicators
• Performance - Local indices
• Sector performance across regions - Weekly
• Sector performance across regions - YTD
• Earnings & Contribution
• Earnings revisions
• Valuation
• Style performance
• Style valuation
• Sector weights, geographical exposure and concentration
• Cross-asset performance and correlation
• Flows from Global investors into equity funds
• Emerging Markets vs. Developed Markets
• Vol, skew and dividends
• Disclosure Appendix