Chief Investment Officer Chris Godding and Senior Research Analyst Louie French give their commentary on what happened in the markets and global economies over the month of March 2018.
Global markets ended the first quarter of 2018 in volatile fashion, with largely negative returns for investors in March. Key drivers of the negative moves in equity markets included a tech tantrum, escalating trade tensions between China and the US, security tensions between Russia and the West, and the latest forward-looking PMI indicators of global growth reporting below expectations.
What happened in the markets?
- Unsurprisingly, it was the more defensive asset classes that outperformed in March, with gold benefitting from a weaker US dollar and government bonds delivering solid returns
- In the currency markets, March was a strong month for sterling following the agreement of the Brexit transition period
- In the commodity markets, higher oil prices linked to supply issues helped the energy sector outperform
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This article was previously published on Tilney prior to the launch of Evelyn Partners.