A positive month for most asset classes – July market update

A positive month for most asset classes – July market update

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Published: 11 Aug 2017 Updated: 13 Jun 2022

July was a positive month for the majority of asset classes, as measures of market volatility remained low and indicators of global growth remained on a firm footing.

What happened in the markets?

  • Asia Pacific and Emerging Market equities continued to lead the way, with a stronger month for global commodity prices and continued US dollar weakness supportive of returns
  • In developed equity markets, tobacco stocks fell heavily on both sides of the Atlantic following the news that the US Food & Drug Administration is considering regulating nicotine levels in cigarettes
  • Despite these headwinds, accommodative monetary policy and a positive start to second quarter earnings season helped US equity markets reach new highs
  • In Europe, the recent strength of the euro, which reached a 30-month high against the US dollar following hawkish comments from the European Central Bank (ECB), acted as a headwind for the competitiveness of European equities, despite solid returns from the banking sector

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Disclaimer

This article was previously published on Tilney prior to the launch of Evelyn Partners.