Quarterly markets review - Q2 2014

An overview of markets in Q2 2014

3 July 2014

Market Views


  • Global equities made gains in the second quarter, supported by ongoing accommodative monetary policy from central banks. Geopolitical tensions were in focus amid an escalation of conflict in Iraq, which pushed oil prices higher. 
  • In the US, the S&P 500 had a strong quarter. GDP growth for the first quarter disappointed but data releases pointed towards a more encouraging picture for the second quarter.  
  • Eurozone equities were supported by the European Central Bank’s announcement of measures to stimulate growth and fend off the risk of deflation. The measures included a cut to interest rates and the introduction of a negative deposit rate. 
  • UK equities edged higher though markets were unsettled by suggestions that an interest rate rise could happen sooner than expected. In Japan, macroeconomic data was mixed following the increase in the consumption tax. 
  • Emerging markets outperformed developed market peers. Emerging Asia was the strongest region led by gains in India. There was optimism about the country’s growth and reform prospects following the election victory of Narendra Modi.   

Read the full report

Quarterly markets review 5 pages | 219 kb



  • Multi-Asset
  • Global
  • Market Reviews Schroders

Important Information: The views and opinions contained herein are those of Schroders’ Investment team, and may not necessarily represent views expressed or reflected in other Schroders communications, strategies or funds. This material is intended to be for information purposes only and is not intended as promotional material in any respect. The material is not intended as an offer or solicitation for the purchase or sale of any financial instrument. It is not intended to provide and should not be relied on for accounting, legal or tax advice, or investment recommendations. Reliance should not be placed on the views and information in this document when taking individual investment and/or strategic decisions. Past performance is not a reliable indicator of future results. The value of an investment can go down as well as up and is not guaranteed. All investments involve risks including the risk of possible loss of principal. Information herein is believed to be reliable but Schroders does not warrant its completeness or accuracy. Some information quoted was obtained from external sources we consider to be reliable. No responsibility can be accepted for errors of fact obtained from third parties, and this data may change with market conditions. This does not exclude any duty or liability that Schroders has to its customers under any regulatory system. Regions/ sectors shown for illustrative purposes only and should not be viewed as a recommendation to buy/sell. The opinions in this material include some forecasted views. We believe we are basing our expectations and beliefs on reasonable assumptions within the bounds of what we currently know. However, there is no guarantee than any forecasts or opinions will be realised. These views and opinions may change.  UK: Schroder Investment Management Limited, 31 Gresham Street, London, EC2V 7QA, is authorised and regulated by the Financial Conduct Authority. For your security, communications may be taped or monitored. Further information about Schroders can be found at www.schroders.com US: Schroder Investment Management North America Inc. is an indirect wholly owned subsidiary of Schroders plc, a SEC registered investment adviser and is registered in Canada in the capacity of Portfolio Manager with the Securities Commission in Alberta, British Columbia, Manitoba, Nova Scotia, Ontario, Quebec and Saskatchewan providing asset management products and services to clients in Canada. 875 Third Avenue, New York, NY, 10022, (212) 641-3800. www.schroders.com/us