July presented an increase in volatility, with the financial markets posting significant swings day in day out. Concerns over the sustainability of spending in Artificial Intelligence (AI) led to a sell-off of companies involved. Additionally, renewed attacks between the US and Iran have nipped in the bud the recent agreement on peace talks. Thus, the price of Brent rose by 24%, ending the month at about USD 90.-/bbl, affecting the inflation rate. Bond yields have therefore risen due to persistent high inflation.