Global Matters | Monthly
After a torrid six months, with global equities suffering a 20% decline and most developed world sovereign bond markets producing negative returns each month in the first half of this year, there was finally relief in July. Led by Wall Street, with the S&P 500 up over 9% in the month, the MSCI World index returned 7.9%, while the JPMorgan Global Government Bond index returned 1.9%. Riskier parts of the bond market, which had sold off heavily in the first half of the year, recovered sharply, with US investment grade bonds +3.2%, high yield bonds +5.9%, and emerging market debt +4.0%. MORE...
VAM Investment Update:
Does anyone understand the economy? - August 2022 MORE...
MARKET COMMENTARY - August 2022
July marked an impressive recovery for global stock markets, with the MSCI All Country World Index gaining 7% to post its best monthly return since November 2020. Although aggressive interest rate hikes were announced, government bond yields, on the whole, declined, as a clear softening in economic data stoked concerns of a forthcoming slowdown.
2022 Global Market Outlook – Q3 update:
Fear of the known
Recession fears and central-bank tightening are driving market volatility. We think equity markets are oversold and believe U.S. core inflation has likely peaked. In our view, this should help markets stabilize and possibly recover over the second half of 2022.