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 October 2018.
Halloween nightmares turned into a reality for investors in October, with global markets spooked by global growth fears, higher US Treasury yields and a softer outlook for corporate profitability.
What happened in the markets?
- Few asset classes offered treats for investors and there was a notable rotation to the traditionally defensive areas of the market, as global equity markets sold off and volatility rose
- Against this risk-off backdrop gold prices rose, the Japanese yen and US dollar strengthened, government bonds outperformed and commercial property returns remained robust
- Global growth fears also weighed on commodity prices in October and oil prices weakened as supply fears eased on rising production data
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This article was previously published on Tilney prior to the launch of Evelyn Partners.