Raymond James
June 2, 2026
Monthly Market Review
Monthly UpdateEquitiesRates Govt BondsRates CreditInformation TechnologyEnergy
May 2026 saw global equities rise significantly led by a 16% surge in Technology, while the US economy remained resilient despite rising CPI and hawkish Fed minutes. Commodities were weighed down by a sharp 17% drop in oil prices linked to US/Iran geopolitical developments.
Key Takeaways
- 1.Global equities, specifically the S&P 500, are being driven by extreme outperformance in the Technology sector and AI-optimism.
- 2.Inflationary pressures are heating up with headline CPI rising at its fastest pace since 2023, causing a hawkish shift in Federal Reserve sentiment.
- 3.Crude oil prices saw a significant monthly decline (approx. 17%) falling below $100/bbl due to hopes for a US/Iran ceasefire deal.
Table of Contents
- Monthly Highlights
- Economy
- Fixed Income
- Equities
- Commodities
- Disclosures
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Authors
Chief Investment Office
Securities
SPXWTI Crude Oil30-Year Treasury Yield
Themes
AI and Technology DominationHawkish Fed PivotGeopolitical De-escalation
Regions
North AmericaAsia PacificEuropeUnited StatesIranJapan