May Edition 2026

May 2026 brought the oil market's sharpest reversal since the pandemic, a historic transition at the Federal Reserve, and the largest private capital raise in AI history. Beneath those headlines, the structural forces reshaping global capital allocation — energy security, AI infrastructure, and the slow erosion of dollar-settlement dominance — continued to compound. This edition covers the month's defining developments across geopolitics, markets, crypto, cybersecurity, and private capital, distilling the intelligence that matters for the investment committee. Three scenarios are mapped with clear implications for private equity and venture capital portfolio positioning. The report also includes a dedicated crypto market snapshot covering Bitcoin, Ethereum, and the key regulatory and technical catalysts shaping Q2 2026. Essential reading for investors navigating one of the most complex macro environments in a generation.