Quarterly markets review - Q1 2015
A look back at markets in Q1 2015, which saw the European Central Bank embark on full quantitative easing.
10 April 2015
Global equities registered positive returns over the first quarter with central banks in the eurozone and China easing monetary policy. Crude oil prices stabilised after their previous sharp drop.
The S&P 500 delivered a modest positive return. The timing of the first interest rate hike now appears more distant. However, concern over the impact of the strong dollar limited the stockmarket’s progress.
Eurozone equities enjoyed strong returns after the European Central Bank’s (ECB) announcement that it would buy sovereign bonds. The size of the package surpassed market expectations.
Japanese equities gained amid some positive corporate earnings and were further supported by hopes that additional stimulus from the Bank of Japan would be forthcoming.
Emerging markets posted positive returns. Chinese equities were supported by the authorities’ moves to boost growth. Russia gained amid the stabilising oil price and hopes of a peace deal with Ukraine. Brazilian equities fell amid anaemic economic growth.
Important Information: This communication is marketing material. The views and opinions contained herein are those of the author(s) on this page, 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. To the extent that you are in North America, this content is issued by Schroder Investment Management North America Inc., an indirect wholly owned subsidiary of Schroders plc and SEC registered adviser providing asset management products and services to clients in the US and Canada. For all other users, this content is issued by Schroder Investment Management Limited, 1 London Wall Place, London EC2Y 5AU. Registered No. 1893220 England. Authorised and regulated by the Financial Conduct Authority.