Author: Investment Desk

July Monthly Commentary

July Monthly Commentary

Since mid-June, financial market performance has been very mixed. Regional equity market performance has varied, US benchmarks have made steady gains (+2.5%) led by a rebound in the technology sector, whilst European and UK markets have slipped -2.5% and -4.0% respectively. In the US, the yield curve has flattened, with […]

June Monthly Commentary

June Monthly Commentary

In recent weeks, financial markets have delivered steady positive returns with government bonds, corporate credit and equities all making gains. Since mid-May, European stocks have outperformed the US. Sector performance has been mixed with less leadership from cyclically sensitive stocks and a recovery in technology names. US 10-year treasury yields […]

May Monthly Commentary

May Monthly Commentary

After a strong month for financial markets in April, conditions in May have been more volatile. Global equity benchmarks have been choppy and US equity indices are lower on the back of technology sector underperformance. US 10-year treasury yields have seen little change month to date at 1.64%, but have […]

April Monthly Commentary

April Monthly Commentary

Financial markets have started April strongly and the rotations that characterised much of the first quarter have eased. The move higher in US Treasury yields that had triggered market and asset class shifts peaked at the end of March, briefly touching 1.75% in the US 10-year Treasury yields, before falling […]

March Monthly Commentary

March Monthly Commentary

The dominant market story of recent weeks has been the rise in US government bond yields and the implications for asset markets and policy makers. Longer-dated government yields have been gradually rising from a low base since the middle of last year, reflective of recovering growth and inflation prospects. However, […]

February Monthly Commentary

February Monthly Commentary

After starting the year on a firm footing, volatility in global equity markets picked up sharply in the final week of January. The move lower in equity markets was sparked by extraordinary retail investor buying, of stocks unfancied by hedge funds and institutional investors who had previously sold (shorted) the […]

January Monthly Commentary

January Monthly Commentary

Global equities started the year in the same bullish manner that drove markets to record highs at the end of 2020. European indices added another 2.0% throughout the first three weeks of the year, marginally outperforming the US, with financials and pharmaceuticals gaining as tech lagged. Investor sentiment continues to […]