November 2017 || Newsletter

Investment Perspective

October was another strong month for global equity markets as the MSCI World Index gained 2.5% in local currencies. The ongoing rally was primarily sustained by positive economic data, robust third quarter corporate earnings and a dovish European Central Bank. Rising expectations for US tax cuts and a general election victory by Japan PM Abe also contributed to the supportive environment for risk assets. The US dollar extended its September rebound and appreciated versus all the other major currencies. Bond yields edged lower in the Eurozone while the yield on 10-year Treasuries ended the month only four basis points higher than at the end of September.

Newsletter summary

  • Investment Perspective
  • Investment Strategy
  • Portfolio Activity/News

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