During the first week of June, markets have navigated between mixed signals from U.S. monetary policy and persistent tensions in the Middle East. The Federal Reserve hinted in its latest statement at the possibility of keeping rates unchanged for longer than expected, due to inflation data that continues to resist easing.

Meanwhile, the rebound in oil following new blockades in the Strait of Hormuz raised the perception of risk. In this volatile context, the risk asset market reacted with movements of indecision and uncertainty.