- UK has requested a further Brexit extension
- Encouraging signs that a US-China trade deal is in sight
- Brent crude prices rallied 2.9%, ending the week at $70.3 per barrel
- Gold ended the week flat at $1291.7 per ounce
Imperium Capital Publication
Weekly Digest – 1 April2019
- UK PM May’s Brexit Withdrawal Agreement rejected for a third time
- Q4 US growth revised lower
- Brent crude advanced 2.0%, ending the week at $68.4 per barrel
- Gold prices fell 1.5% to $1293 per ounce
Weekly Digest – 25 March 2019
- A relatively flat week overall for equity markets
- A $16bn flight from passive ETFs took place in the January rally
- Brent crude fell 1.0% to $62.1 per barrel
- Gold fell 0.2% to $1315 per ounce
Viewpoint – March 2019
The Federal Reserve inspired recovery in equity markets following the Q4 2018 sell-off, continued through February, albeit on a more mixed and less dramatic basis than January. European equities led the way with a return of 4.1% in euro terms, taking its recovery since the December low to 14%.
The US and Japanese markets broadly kept pace with Europe in February. US equities returned 3.1%, taking its recovery since the December low to 19% and leaving it only 4% off its all-time high. The major laggard was the UK, which returned 2.3% in February and 8% from its December low, held back by Brexit uncertainty and sterling strength, an important factor for UK stocks given that some 75% of listed company revenues are derived offshore. The MSCI World index returned 3% on the month and is up 17% from its December low.
Weekly Digest – 18 March 2019
- A relatively flat week overall for equity markets
- A $16bn flight from passive ETFs took place in the January rally
- Brent crude fell 1.0% to $62.1 per barrel
- Gold fell 0.2% to $1315 per ounce
Weekly Digest – 11 March 2019
- A relatively flat week overall for equity markets
- A $16bn flight from passive ETFs took place in the January rally
- Brent crude fell 1.0% to $62.1 per barrel
- Gold fell 0.2% to $1315 per ounce
Weekly Digest – 4 March 2019
- A relatively flat week overall for equity markets
- A $16bn flight from passive ETFs took place in the January rally
- Brent crude fell 1.0% to $62.1 per barrel
- Gold fell 0.2% to $1315 per ounce
Weekly Digest – 25 February 2019
- A relatively flat week overall for equity markets
- A $16bn flight from passive ETFs took place in the January rally
- Brent crude fell 1.0% to $62.1 per barrel
- Gold fell 0.2% to $1315 per ounce
Viewpoint – February 2019
What a difference a month makes. Following the despair of December, markets made one of their best ever starts to a new year, with virtually all asset classes and markets rising, some very sharply. Many equity markets managed to recover the ground lost in December.
The US led the way with a return of 8%, pulling the MSCI World index up by 7.8%. In this risk-on environment, emerging markets outperformed developed markets, up 8.8%, with Latin America again relatively strong, up 15%. While all markets were buoyant, the UK was the notable underperformer, up 3.7%. UK equities were held back by a strong pound which rallied 2.5% on a trade-weighted basis as fears of a no deal Brexit faded. All sectors of the markets rose, with
technology stocks leading the way after their particularly sharp falls in Q4 last year. The tech-heavy NASDAQ index was up 10% and the NY FANGs 13%, the latter having risen by 22% from the December 24th lows compared with a 15% rise in the S&P 500.
Weekly Digest – 18 February 2019
- A relatively flat week overall for equity markets
- A $16bn flight from passive ETFs took place in the January rally
- Brent crude fell 1.0% to $62.1 per barrel
- Gold fell 0.2% to $1315 per ounce