Throughout October, all eyes were on the build-up to the US election. Markets broadly followed the ebbs and flows of each candidate’s campaign momentum. As such the announcement that the FBI was to re- open its investigation into then candidate Hillary Clinton’s email account led to a wave of risk adverseness and portfolio hedging throughout global markets. The S&P 500 index lost 1.9% over the month, whilst European stocks lost 1.0%.
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Imperium Capital Publication
Weekly Digest – 20 November 2016
- US dollar and global bond yields continue to rise
- Fed Chair Yellen hawkish in latest remarks
- Draghi dovish amid euro weakness
- UK retail sales surprise on the upside
- Safe-haven assets continue to be out of favour
Weekly Digest – 13 November 2016
- Donald Trump wins US election to become 45th US President
- Property mogul’s victory sparks bond sell-off
- Emerging market currencies suffer
- Investors focus on sectors that will benefit from Trump’s policies
- Commodity falls lead by oil and gold
Weekly Digest – 06 November 2016
- Investors hedge risk ahead of US election
- US employment data reinforces hike expectations
- UK High Court rules Parliament must vote to trigger Brexit
- Europe Q3 GDP growth at +0.3%
- Oil falls on rising inventories and falling faith in OPEC
Weekly Digest – 30 October 2016
- US and UK Q3 GDP surprise to the upside
- FBI reopen Clinton email investigation; US markets falter
- Global bond yields continue to rise
- Europe shows signs of recovering economic activity
- Unsuccessful OPEC meeting sparks oil price fall
Weekly Digest – 23 October 2016
- China’s economy grows 6.7% in Q3
- European bank shares rise following uneventful ECB meeting
- UK CPI jumps month-on-month
- US dollar strengthens as company earnings season commences
- Portugal’s sovereign bond rating avoids decisive downgrade
Viewpoint – October 2016
The modest returns seen in the majority of markets over the month masked some sharp moves over the same period. In most cases these were triggered once again by central bank policy decisions, as well as moves by OPEC and Russia to curb oil production.
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Weekly Digest – 16 October 2016
- Dollar strengthens as market prepares for Fed rate hike
- Inflation expectations rise in the UK
- Bond yields rise amid tapering rumours
- Chinese trade data disappoints, whilst inflation rises
- Eurozone industrial production beats expectations
Weekly Digest – 09 October 2016
- Sterling vs USD lowest since 1985, whilst UK equities reach record highs
- US economy adds 156,000 jobs in September
- Dollar rises as expectations converge on December rate hike
- ECB rumours trigger rise in global bond yields
- In commodities, oil rises and gold falls
Weekly Digest – 02 October 2016
- Oil prices rise as OPEC agrees to curb production
- US Q2 GDP revised upwards
- UK PM announces deadline for triggering Article 50
- Eurozone see encouraging economic data releases
- Japanese markets fall as deflation continues