ILIM Quarter in Review: Q2 2026
by Irish Life Financial Services
Written by Irish Life staff
Market News • 10 July 2026 • 3 min read
ILIM Quarter in Review: US-Iran discussions drive market hopes
This blog was written by Irish Life staff based on content produced by Irish Life's investment managers (ILIM).
Click here to read the ILIM report in full (PDF)
Key takeaways from Q2 2026
The US-Iran conflict shifts back and forth between escalation and deescalation.
Corporate earnings remain a pillar of support for risk assets.
Inflation pressures remained elevated, particularly in the US and Europe.
War never changes
Ongoing disruption around the Strait of Hormuz kept energy markets volatile. While a memorandum was signed in June, the conclusion of the conflict is far from certain.
Market round-up
Global market reaction
Global equities rebounded strongly in Q2, driven largely by the hope that ceasefire announcements would hold and the Strait of Hormuz would reopen.
The US economy held firm in Q2 despite higher prices and weaker incomes, with Q1 GDP growing 2.1%.
The Eurozone remained one of the most impacted regions of Trump's energy crisis, but oil prices fell towards the end of Q2.