Our monthly market update and portfolio positioning commentary.
After equity markets reached all-time highs, hopes of a quick resolution of the coronavirus outbreak faded with the growth of new reported cases across the globe. Stock markets ended the month in deeply negative territory after a historic decline in the final week of the month.
All major asset classes, particularly global equities, enjoyed attractive returns in Q4 of 2019 in an environment of improved risk sentiment globally.
Equities performed well in November significantly outperforming bonds. November’s rally followed a strong month for equities in October and was propelled by similar drivers: a pick-up in sentiment due to...
After a year in which we saw a combination of trade and tariff uncertainty and a general slowdown in global manufacturing, it is perhaps little surprise that Germany narrowly avoided a technical recession.
The third quarter presented investors with difficult conditions, where the interplay between trade, monetary policy and growth, characterised the economic narrative that has prevailed throughout 2019.