In March 2024 global markets recorded moderate growth with most major stock and bond markets producing positive returns. The rally in risk assets continued, fuelled by resilient economic data and expectation for most central banks moving toward an easing cycle. Global equities performed strongly in March with the US S&P [...]

In the month of February, global markets demonstrated a mix of overall resilience and diverging fortunes across asset classes. A ‘risk on’ portfolio stance was generally well rewarded. Global equity markets experienced another positive month, fuelled by positive economic data and generally strong earnings reports. Japan's equity market continued its [...]

The final month of 2023 was positive for investors, with strong returns across most major asset classes. This upturn was fuelled by expectations of central banks, particularly the Federal Reserve, potentially cutting interest rates earlier and by a larger amount in 2024 than previously anticipated. Developed market equities and global [...]

November witnessed a broadly positive market performance, with inflation moderating further across developed markets and softened expectations for further policy tightening. However, some risks persisted, including signs of cooling US growth, volatile oil prices linked to Middle East tensions and the associated uncertainty to the inflation outlook in the short [...]

In September, global financial markets experienced a significant shift, characterised by a slowdown in the fall of inflation and expectation of persistence of higher cash rates. While the suggestion is still that cash rates have likely peaked in key regions, the narrative has changed to "higher for longer". Markets responded [...]

In August 2023, global financial markets were volatile amid a complex and challenging environment. Concerns about inflation, central bank policies, and economic weakness in China combined to create uncertainty which made global shares fall in August. Economic data in the US remained solid, as job gains remained strong and retail [...]

Investment update for June 2023 Global stocks delivered positive returns in June which was supported by resilient economic growth and improved market sentiment. US equities performed well throughout the month, continuing from the strong rally over recent months. The US Federal Reserve kept interest rates unchanged which supported equity valuations. [...]

Investment update for May 2023 Global stocks produced a small negative return for the month of May, but there was material divergence in performance across regions and sectors. Volatility in markets was impacted by economic developments, expectations of future interest rate changes and news linked to the US debt ceiling. [...]

Investment update for April 2023 During the month of April, global stocks produced positive returns as economic growth was more resilient than expected. Despite experiencing further stress in the banking sector, financial markets were bolstered by more optimistic economic growth performance in April. US stocks overall produced positive returns, although [...]

Investment update for March 2023 In March, global stocks and bonds both produced positive returns. The collapse of Silicon Valley Bank (SVB) and broader concerns around the financial sector initially caused a sell-off in equities. In addition, market pricing reacted with an expectation of lower future interest rates, with a [...]