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The Market Call - Week Ending 24th April 2026
Episode 71
Friday, 24 April, 2026

This week Progressive's Jeremy McKeown & Gareth Evans comment on the Middle East situation, its potentially huge and long-term impact on supply chains but also the ability of humanity to reinvent and rearrange very quickly.Jeremy suggests that the equity market's buoyancy is partly a short-squeeze on Mag 7 as AI spend continues to reach new frenzied highs, and asset managers want "safe" US Dollar assets. The US may have started this war, but their assets and their energy are largely safe from its immediate effects.Meanwhile Kevin Warsh is suggesting a new - and more nuanced - approach to Central Bank structures...lower interest rates for sure, but with a dose of academic justification. Playing to the crowd, perhaps...persuading the bond markets, hard to tell.