August was another positive month for risk assets, as global equity markets recorded their hottest returns for the month of August since 1986.
In this edition
- Against this backdrop, equity market returns were strong across a number of regions, with fears of a second Covid-19 wave and rising geopolitical risks offset by another weak month for the US dollar and the continuation of accommodative economic policies from central banks and governments around the world.
- At the company level, technology focused companies continued to be the main driver of returns, as Apple became the first US company to reach the US$2 trillion valuation milestone and Tesla shares charged to a new record high.
- The weaker US dollar also supported another solid month for commodity prices, most notably the price of silver, which continued to rally after strong returns in July.
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This article was previously published on Tilney prior to the launch of Evelyn Partners.