Insights

Weekly Market Commentary – 27th February 2026

27 February 2026

This week investors have been forced to return to the subject of global trade after the US supreme court ruled that Donald Trump overstepped his authority with most of last year’s ‘Liberation Day’ tariffs. The slight increase in defensive assets reflects the increased uncertainty from the ruling. A new blanket 10% tariff has been imposed, but an increase to 15% will break the terms of many of Trump’s recent bilateral trade deals. The new 10% rate is a temporary measure, so there is additional uncertainty about what happens when its time limit expires.