This monthly commentary gives a roundup of global markets and trends.
In this edition:
- While equity investors are positive on the economic outlook, anticipating stronger corporate earnings and GDP expansions, bond yields continue to suggest gloom ahead.
- Equity investors are taking their cue from improving corporate earnings, private consumption and capital expenditure.
- Bond yields may be anchored by technical factors rather than a deterioration in growth. International investors and the Federal Reserve have been buying treasuries.
- We lean towards the more optimistic view, while also keeping a close eye on inflation, Covid and slowing global growth.
This article was previously published on Tilney prior to the launch of Evelyn Partners.