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Global markets hit the buffers after improbable two-month rally
Markets hit the buffers this week following two months in which they had mounted an improbable rally in the face of deteriorating economic data. It took only a few trading days for continental European stock markets to give back a third of the gains accumulated during the rally. American markets followed Europe down, with the technology-heavy Nasdaq Composite Index leading the way, albeit after an impressive 23% rise from trough to peak. Once again, the FTSE 100 was the best performer, sustained by its unique mix of global pharmaceutical, mining, banking and energy companies. Unfortunately, the same did not apply to the more UK-focused FTSE 250, which suffered a 4.3% decline on the week. Bond markets resumed their downward spiral with US 10-year government bond yields back above 3% and 10-year gilt yields surging back towards their highs of the year. The US dollar resumed its safe-haven status, with the pound and euro dropping to new lows for the year. As you were, then.
Stocks featured:
Bed, Bath & Beyond, BHP Group, Home Depot and Walmart
To find out more about the investment management services offered by Walker Crips, please visit our website:
https://www.walkercrips.co.uk/
This podcast is intended to be Walker Crips Investment Management’s own commentary on markets. It is not investment research and should not be construed as an offer or solicitation to buy, sell or trade in any of the investments, sectors or asset classes mentioned. The value of any investment and the income arising from it is not guaranteed and can fall as well as rise, so that you may not get back the amount you originally invested. Past performance is not a reliable indicator of future results. Movements in exchange rates can have an adverse effect on the value, price or income of any non-sterling denominated investment. Nothing in this podcast constitutes advice to undertake a transaction, and if you require professional advice you should contact your financial adviser or your usual contact at Walker Crips. Walker Crips Investment Management Limited is authorised and regulated by the Financial Conduct Authority and is a member of the London Stock Exchange.
Hosted on Acast. See acast.com/privacy for more information.
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By Walker Crips Investment Management Limited
5
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Markets hit the buffers this week following two months in which they had mounted an improbable rally in the face of deteriorating economic data. It took only a few trading days for continental European stock markets to give back a third of the gains accumulated during the rally. American markets followed Europe down, with the technology-heavy Nasdaq Composite Index leading the way, albeit after an impressive 23% rise from trough to peak. Once again, the FTSE 100 was the best performer, sustained by its unique mix of global pharmaceutical, mining, banking and energy companies. Unfortunately, the same did not apply to the more UK-focused FTSE 250, which suffered a 4.3% decline on the week. Bond markets resumed their downward spiral with US 10-year government bond yields back above 3% and 10-year gilt yields surging back towards their highs of the year. The US dollar resumed its safe-haven status, with the pound and euro dropping to new lows for the year. As you were, then.
Stocks featured:
Bed, Bath & Beyond, BHP Group, Home Depot and Walmart
To find out more about the investment management services offered by Walker Crips, please visit our website:
https://www.walkercrips.co.uk/
This podcast is intended to be Walker Crips Investment Management’s own commentary on markets. It is not investment research and should not be construed as an offer or solicitation to buy, sell or trade in any of the investments, sectors or asset classes mentioned. The value of any investment and the income arising from it is not guaranteed and can fall as well as rise, so that you may not get back the amount you originally invested. Past performance is not a reliable indicator of future results. Movements in exchange rates can have an adverse effect on the value, price or income of any non-sterling denominated investment. Nothing in this podcast constitutes advice to undertake a transaction, and if you require professional advice you should contact your financial adviser or your usual contact at Walker Crips. Walker Crips Investment Management Limited is authorised and regulated by the Financial Conduct Authority and is a member of the London Stock Exchange.
Hosted on Acast. See acast.com/privacy for more information.