Monthly markets review May 2015
May's market highlights:
- Global equities managed to eke out positive returns in May. Emerging markets delivered a negative return, lagging their developed market peers.
- The S&P 500 struck a new all-time high. There was a so-called “reluctant rally’” as investors continued to view equities as the least bad option. GDP data was disappointing but largely attributed to poor weather.
- Eurozone equity gains were somewhat muted. GDP growth for the region accelerated to 0.4% but German growth disappointed. UK equities were buoyed by a general election victory for the Conservative Party.
- Japanese stocks registered positive returns amid better economic data and further weakness in the yen.
- In emerging markets, Brazilian shares came under pressure amid fears tax breaks on equities would be ended. Chinese equities experienced weakness as the authorities took steps to rein in the recent market rally.
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