This year’s rally in equity markets came to a halt in May, with many major markets delivering negative returns.They were derailed at first by the collapse
Throughout April, global equities continued the strong performance they have enjoyed since the start of 2019 with the MSCI All-Country World Index
During the first quarter of 2019 the global economy saw a renewed appetite for risk after the poor end to 2018, which subsequently saw equities deliver strong returns.
The equity market turnaround persisted for a second month, with global equity markets now having recovered roughly 75% of the losses from the last
quarter of 2018.
January was a uniformly positive month for major equity markets, with the MSCI All Country World Index returning 7.9%. Most of this performance can be understood as a rebound from a particularly poor fourth quarter 2018.
The 4th quarter of 2018 delivered some of the worst returns risk assets have experienced since the financial crisis, with the MSCI All Country World Index down by 12.7%. This is primarily due to slowing global growth, reduced global liquidity, trade protectionism and political gridlock.