Global market perspective

Schroders
By April 15, 2019 11:02

Global market perspective

Economic and asset allocation views

Risk assets rebounded sharply in the first quarter with US equities recording one of their best first quarter gains on record. Strong performances were also registered by China A-shares, which was the best performer during the period, and from Europe where the Italian market stood out. Part of this can be attributed to a rebound from the significant collapse at the end of last year which left equity markets oversold. However, the key driver was a pivot in monetary policy led by the US Federal Reserve which signalled an end to interest rate hikes and an earlier than expected stabilisation of its balance sheet. This spurred a rally in sovereign bond markets with yields falling as investors priced in looser monetary policy. The fall in yields combined with the increase in risk appetite supported a strong rally in credit markets and underpinned the recovery in equity. 

Schroders
By April 15, 2019 11:02

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