Monthly markets review - July 2017
Monthly markets review - July 2017
- Global equity markets advanced in July. Prevailing trends in economic data continued, easing pressure on major central banks to alter policy trajectory.
- Despite ongoing political uncertainty in the US, the S&P 500 rose over the month amid supportive macroeconomic data, a robust start to the quarterly reporting season and further weakness in the dollar.
- Eurozone equities made narrow gains. Economic data remained positive but a stronger euro capped equity market progress.
- The UK’s FTSE All-Share index rose in July. Resources and financial sectors led the market higher, with resources sectors benefiting from higher commodity prices.
- Japanese equities managed to eke out a positive return despite the yen strengthening late in the month.
- Emerging markets recorded a robust return, with dollar weakness a tailwind. Continued improvement in the outlook for global growth aided risk appetite.
- In bond markets, the late-June selloff initially continued in July but came to a halt as expectations of a more hawkish shift among central banks were reined in. Yields for US 10-year Treasuries were little changed over the month.
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.