Market Commentary

May 2019

 

Global Equity Markets
Stocks rose in April amid sentiment of a melt-up in the markets. Concerns were on the US Treasury curve that inverted, spooking investors with the timing of a US recession. Markets focussed on the unresolved US-China trade issue at the final stages and oil prices hit a six-month high after the US tightened sanctions on Iranian barrels to other major economies. The emerging markets (EM) underperformed the developed markets (EM). Within EM, Latin America and Eastern Europe underperformed and EMEA outperformed.

Asia Pacific Equity Markets
Asian stocks underperformed in April with fears over the yield curve inversion and the timing of a US recession. Investors were concerned over US-China trade issues that remain unresolved at the final stages, and sentiment that a melt-up in the markets were brewing as equities continued to surge. Oil prices hit a six-month high after the US tightened sanctions on Iranian barrels to other major economies. Australia and Japan underperformed, lagging behind their emerging market regional peers.

Asia (excluding Japan) Equity Markets
Stocks in Asia ex-Japan underperformed in April. Fallout from the yield curve inversion continued to dominate the conversation, raising the concerns over a coming U.S. recession. Even as China’s better economic data eased concerns over a slowdown, investor concerns remained as US-China trade issues remain unresolved at the final stages, and sentiment that a melt-up in the markets were brewing as equities continued to surge. Oil prices hit a six-month high after the US tightened sanctions on Iranian barrels to other major economies.

 

May 2019
April 2019
March 2019
February 2019
January 2019

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