Market Minute – Rates and bonds May 2026

The broad equity market has rebounded from its 30 March low point as investors speculate on an imminent end to the Iran war and the reopening of the Strait of Hormuz. The bond market reflects the same expectation, with interest rates around the world having fallen since 30 March. Nevertheless, volatility and event risk remain high, and the future direction of central banks is unclear. We take a look back at developments on interest rate and bond markets in April, as well as turn to market expectations for the months ahead.

What does the current situation mean for investors? Read the views of our experts in the latest edition of “Market Minute”.