Monthly markets review - July 2017

Investment Communications Team

Investment Communications Team

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  • 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.

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Monthly markets review July 2017 6 pages | 126 kb