Global Market Review & Outlook
In the face of strengthening and broadening headwinds, the unbroken run of seven months of gains in equities came to an abrupt halt in September.
The MSCI World index fell by 4.2%, wiping out all the gains of the preceding two months, leaving global equities flat over the third quarter. Having led markets on the way up, Wall Street was the worst performer of the large developed markets in September, with a return of -4.7%. The only notable riser in the month was Japan, up 4.4%, buoyed by the resignation of Prime Minister Suga and hopes that his successor will ease Covid restrictions and inject more stimulus into the stalling economy. In emerging markets, China continued its slide, down 5% in September and 18% for the quarter, dragging the MSCI Emerging Markets index down by 8% in the third quarter. Despite increasing nervousness among equity investors, safe haven assets also came under pressure. The gold price fell by 3% in September and government bond markets suffered widespread falls: US Treasuries -1.1%, UK gilts a particularly sharp -3.8%, and emerging market bonds down -3%
MONTHLY MARKET OUTLOOK
Monetary policy couldn’t get easier; there’s only one place to go from here
Fiscal conditions are incredibly accommodative: interest rates are lying low, credit is freely available and GDP is as if Covid never happened. The time to taper is nigh. MORE...
MARKET COMMENTARY - OCTOBER 2021
Quilter Cheviot provides bespoke investment management for private clients, trusts, charities and pension funds. To provide a truly personal service, we assign to each client an investment manager whose role is to design and implement an investment strategy tailored to the needs of the client. A local presence and easy accessibility to investment managers is a key element to the personal attention we give our clients. Quilter Cheviot has a network of regional offices located in major cities in the UK, as well as offices in Jersey and a subsidiary Quilter Cheviot Europe in Dublin.
Q3 2021 Equity Manager Report: How are inflation concerns impacting manager viewpoints?
Do mounting worries over inflation have managers bracing for heightened volatility in the months ahead?
The answer: Yes, according to the results of our third-quarter report of equity managers in key geographic and equity regions across the globe.