Quarterly markets review - Q3 2017

Investment Communications Team

Investment Communications Team

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  • Global equities posted a quarter of solid gains in Q3. Economic growth stayed in something of a “Goldilocks” zone overall, with stable expansion and benign inflation backed by positive earnings releases.
  • The S&P 500 rose over the quarter amid some supportive macroeconomic data, a robust quarterly reporting season and further weakness in the US dollar.
  • Eurozone equities advanced against a backdrop of positive economic data. The possibility that the European Central Bank (ECB) could soon reduce its stimulus measures continued to be a focus for the market.
  • The UK’s FTSE All-Share index also rose, led by the resources sectors as both industrial metal and crude oil prices recovered.
  • Japanese equities also posted gains amid improving economic data. Politics took the headlines as Prime Minister Abe called an election to be held in October.
  • Emerging markets outperformed. Brazil was the strongest index market amid some reform progress, coupled with a reduced prospect of a return for the leftist Workers Party in the 2018 elections.
  • Bond yields were little changed over the quarter, reflecting a largely unchanged global economic backdrop. Corporate bonds made positive returns, outperforming government bonds.

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Quarterly markets review - Q3 2017 6 pages | 129 kb