- Geopolitical tensions rise over North Korea & Syria
- March US non-farm payrolls reading disappoints
- FOMC minutes spark equity declines
- Eurozone PMI data reaches multi-year high
- South Africa’s sovereign credit rating downgraded
Imperium Capital Publication
Weekly Digest – 2 April 2017
- Strong finish to Q1 for equity markets
- US Q4 GDP growth revised upwards
- UK triggers Article 50
- China raises short term interest rates
- Euro area inflation below expectations in March
Weekly Digest – 26 March 2017
- Risk-off week led by US equities & dollar weakness
- PMIs suggest strong growth in Europe
- Sterling strengthens following UK inflation pickup
- UK PM to trigger Article 50 on Wednesday
- Oil prices continue to fall
Weekly Digest – 19 March 2017
- Fed carries out expected US rate hike
- Liberal Party wins most seats in Dutch election
- BoJ & BoE hold tight on policy
- Emerging markets outperform as China raises rates
- UK Parliament passes Brexit bill
Viewpoint – March 2017
The broad pattern of market performance since Trump’s election victory continued in February in a period notable for its particularly low volatility, with the Vix ‘fear’ index now at its lowest levels since the financial crisis. Equities, led by the US, significantly outperformed bonds again; global developed equities returned 2.8% in February compared with a return of 0.4% from global bonds, taking the year-to-date outperformance of equities to 3.9%.
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Weekly Digest – 12 March 2017
- US payrolls give green light for March rate hike
- S&P 500 ends six week winning streak
- Oil price suffers largest weekly fall in 2017
- Euro up & bonds down following ECB meeting
- China lowers target for economic growth
Weekly Digest – 05 March 2017
- Fed rate hike probability soars
- US equities rise for sixth straight week
- French election: Fillon placed under formal investigation
- Sterling down as Brexit bill blocked in House of Lords
- Eurozone inflation reaches 2% target
Weekly Digest – 26 February 2017
- Polls show growing support for Macron & Le Pen
- Strong week for bonds amid Euro uncertainty
- Progress made on Greek debt negotiations
- US equities continue their ascent
- Gold prices rise for fourth consecutive week
Viewpoint – February 2017
The early weeks of 2017 in financial markets have been a sharp contrast to the same period in 2016, when markets fell sharply on fears about China’s slowdown and currency weakness. This year markets have continued their post-election pattern, rising on expectations of ‘Trumpflation’, and higher growth and corporate profits. Equities, again led by the US, have continued to outperform bonds, with the MSCI World index up 2.4% in January while global government bonds were up 0.9%. However, it was notable that global emerging markets, which underperformed markedly in the aftermath of the election amidst fears of trade protectionism and a strong dollar, recovered strongly, with the MSCI Global Emerging Markets index up 5.5% for the month, helped by currency gains and strong rises in Asian and Latin American markets.
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Weekly Digest – 19 February 2017
- Rate hike expectations rise in the US
- Inflation data shows global prices continue to climb
- US equities close the week at new all-time highs
- Euro Area GDP grows +0.4% in Q4 2016
- China sets new record for monthly lending