Week of 27 April 2026
Weekly markets 27 04 2026
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All four major central banks — the Fed, ECB, Bank of England, and Bank of Japan — hold rates this week, and we ask whether the muted market reaction to the Iran war signals something structural: that technology and services have displaced fossil fuels as the real engine of the global economy. We then turn to the AI chip shortage, where hyperscalers are ramping capital spending by 190% while hardware suppliers lag far behind — a mismatch that could slow the entire AI buildout within the year. We close with quantum computing in finance: JPMorgan and Goldman Sachs are already investing, McKinsey forecasts $72 billion in revenues by 2035, but the technology is still years from being genuinely useful.
