Geopolitics & Economy

Since late February, markets have entered a rates-volatility regime characterized by rising yields, raising concerns about inflation that have all but dashed any hopes of any rate cuts this year. Equity price action remains volatile and weak, however, coming on the heels of strong quarterly earnings results and forecasts for growth, seems more consistent with deleveraging and uncertainty, rather than a full macro slowdown.

Beyond the temperamental weather, March is also a month with historical precedent for upheaval. Shakespeare's famous tragedy of Julius Caesar brings to mind the famous line “Beware the Ides of March” which references Julius Caesar’s real life assassination in 44 BC. Ancient Roman politics notwithstanding, it probably won't be lost on our readers that March of 2026 has been marked by political and military upheaval as well.