VALUATION CONCERN BRINGS PROFIT-TAKING IN TECH LEADERS The tide turned for the Magnificent Seven stocks during July as a disappointing start to the tech stock earnings season saw Alphabet, Tesla, and Microsoft share prices slide. This prompted the Nasdaq to fall 10%...

A MIXED QUARTER FOR MARKETS AS RATE CUTS HOPES RECEDE The second quarter was mixed for financial markets. Inflation during the first quarter proved concerningly sticky, and markets factored in a higher-for-longer inflation and interest rate outlook, which saw both...

MARKETS MIXED WITH INVESTORS WAITING ON INTEREST RATE CUTS May was a mixed month for stock markets. Hopes prevailed earlier this year that inflation would already have fallen convincingly enough by now to have paved the way for interest rate cuts in the US. As the...

MAJOR EQUITY AND BOND MARKETS WEAKEN ON STICKY INFLATION AND WEAKER GROWTH April was a more challenging month for stock markets with US equities having a particularly bumpy ride. Investor concerns centred on signs of vulnerability in the US growth outlook and...

EQUITY MARKETS REACH NEW HIGHS DESPITE CAUTION OVER RATE CUTS The first quarter of the year was characterised by several stock markets hitting all-time highs but with the Magnificent Seven tech stocks no longer driving market performance to the same extent as in 2023....

SANTA RALLY FOR STOCKS AND BONDS AS OIL PRICE RETREATS FURTHER The year ended on a high note for stock markets and a ‘Santa Claus rally’ lifted stocks close to record highs. The S&P 500 Index soared 11.7% during the third quarter while MSCI Europe (ex UK) rallied...

MARKETS TURN HIGHER ON SOFTER INFLATION DATA Investor sentiment suddenly became positive in November, based on expectations that central banks are winning their fight against inflation and are likely to start reducing interest rates as early as the second quarter of...

CONTINUED DECLINES IN GLOBAL EQUITY MARKETS Stock markets struggled for a third consecutive month as concerns persisted regarding the potential impact on the global economy from interest rates remaining higher for longer in the face of still strong activity in the US....

SEASONAL FALLS FOR EQUITIES AND BONDS Financial markets had a tough third quarter, with September yet again weak as equity and bond prices tumbled. Optimism regarding interest rate declines in Q4 and further reductions early in 2024 was dispelled as the US economy...