Goldman Sachs
May 11, 2026
Market Stress Monitor
Market ReportEquitiesRates Govt BondsRates CreditOther
The May 2026 Market Stress Monitor indicates that global financial markets are stabilizing following a period of geopolitical tension, with improving liquidity in equities and a reduction in rates volatility.
Key Takeaways
- 1.Market stress measures have generally stabilized or improved over the past month across most asset classes.
- 2.Stress from the Iran conflict was limited and primarily affected rates market microstructure rather than broad market stability.
- 3.Equity market liquidity is improving, evidenced by narrower bid-ask spreads and increased top-of-book market depth.
Table of Contents
- Summary of Market Function Measures
- Temperature Check
- DM Credit Markets
- Rates Markets
- Equity Markets
- Emerging Markets
- Disclosure Appendix
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Authors
William MarshallFriedrich Schaper
Securities
E-mini future
Themes
Market Liquidity and Stress MonitoringGeopolitical Impact on Rates
Regions
GlobalMiddle EastIranUnited States