Early April was marked by a rally in equities and lower market volatility as COVID-19 infection rates peaked. Inspired primarily by the possibility of resumed economic activity, investors drove the MSCI All Country World Index 10.6% higher in April.
At the start of 2020, the macroeconomic environment looked primed for a modest acceleration. Private sector business sentiment had improved and developed economies’ labour markets were proving resilient.
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.