Investment Comment July 2020

In June, many governments moved to ease lockdown measures and restart their economies. Equity markets continued to trend higher on the positive news and bond markets remained stable.  As worldwide cases of Covid-19 passed 10 million, the prospect of regional…

Investment Comment June 2020

May saw a continuation of the recovery of market sentiment seen in April. Equity markets continued to rally and towards the end of the month US markets reached levels not seen since the end of February. Many countries in Europe…

Investment Comment May 2020

Markets have recovered in part from the declines across asset classes seen in March. Aided by stimulus packages from central banks, developed market stocks and bonds broadly rallied. Commodity price indices were less strong, contained by weak global demand and…

Investment Comment April 2020

The first quarter of 2020 saw market volatility not experienced since the Global Financial Crisis. With many markets hitting record highs in February, the drawdown in March was sharp. Despite a rally towards the end of the month, many indices…

Investment Comment March 2020

The spread of the Covid-19 virus outside of China derailed equity markets in February. At the time of writing (5 March), there have been 95,700 cases and over 3,280 deaths from the virus. China remains the most heavily affected country,…

Investment Comment February 2020

Global equity markets pulled back at the end of January, following the outbreak of the coronavirus in Wuhan, China. The virus has since spread to 24 other countries and, at the time of writing, has infected 28,292 people and claimed…

Investment Comment January 2020

In marked contrast to 2018, equity markets rallied through the final quarter of 2019, with many geographies ending the year at or close to record highs. The gap between two-year and ten-year US treasury yields returned to positive territory and…

Investment Comment December 2019

Positive sentiment in global markets continued in November. Developed markets again outperformed emerging markets, adding to the notable performance divergence this year.  Perceived safe havens such as sovereign debt, gold and silver weakened, indicating improved appetite for risk in markets….

Investment Comment November 2019

October proved to be an encouraging month for investors. Geopolitical risks to markets at home and abroad abated; macro data was better than expected; and Q3 US earnings surprised to the upside. Market optimism was apparent in the continued sell…

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