- Brent crude finished the week @ 63.77, up +1.8% after a strong week
- Gold had an overall flat week closing at 1291.6, down -0.5%
- Bitcoin up more than 800% in 2017
Imperium Capital Publication
Viewpoint – November 2017
Equity markets continued to rise in October, with several indices hitting all-time highs. The MSCI AC World Index has now risen for twelve consecutive months, taking 12 month returns to 23.2%. Volatility, typically measured by the VIX index, also reached alltime lows. The global economic backdrop remained supportive for equities with the synchronised global recovery continuing, as many economies, irrespective of geography, continue to expand.
The global economic backdrop was particularly beneficial to emerging market equities which continued to outperform developed markets, posting a 3.5% return in US Dollar terms, versus 1.9% for developed markets. Japanese stocks also outperformed, posting a 5.4% return in Yen terms, with investors reacting positively to the re-election of Prime Minister Shinzo Abe which should ensure continuation of stimulative policies. US equities rose 2.3% during the month, following better-than-expected GDP growth in Q3 of 3.0% annualised versus a 2.5% consensus, robust earnings data and unemployment falling to 4.2%. Given the backdrop of low inflation and the disruption from Hurricane Harvey and Hurricane Irma, the US economy and equity markets remained resilient.
Weekly Digest – 19 November 2017
- US House of Representatives pass tax reform bill
- German coalition government talks break down
- Zimbabwean military forces seize power from Mugabe
- US CPI inflation surprises on the upside at 1.8% YoY
- UK unemployment remains at 42 year low of 4.3%
Weekly Digest – 12 November 2017
- US, UK and European stocks sell off
- Investor concerns over US tax reform plans
- Saudi Arabia continues anti-corruption reforms
- EU Commission downgrades UK GDP growth forecasts
- Brent crude oil hits two and a half year highs
Weekly Digest – 5 November 2017
- Jerome Powell nominated as Federal Reserve chair
- The Bank of England votes to raise rates by 25 basis points
- US equities hit record highs
- Eurozone posts strong economic data
- US House presents initial draft tax bill