Global shares fell -8.5% and -4.9% in hedged and unhedged terms, respectively
The rally from December has continued into July with most equity markets up for the month.
The rally from December lows has flowed into April with most markets positive.
The US remains buoyant with business and consumer confidence elevated. The US share market (S&P 500) keeps powering along supported by solid earnings and accommodative policy.
Talk surrounding Donald Trump’s proposed tax reforms and solid economic data more than offset concerns about North Korea, the US Federal Reserve announcing that they will commence to trim their balance sheet and likely lift rates again this year.
Share markets in the US closed flat for August after a choppy month on the back of US political uncertainty, riots in Charlottesville and tensions in North Korea. The devastation of Hurricane Harvey also contributed to what has been the most volatile month in the S&P500 this year.
Global share markets paused in the month following rising volatility on the back of lower oil prices. The Fed raised interest rates by another 25bps following better economic conditions although the market ...