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The overall performance for the month of July was positive for developed market indices, with increased volatility in the second half of the month. The uncertainty seen is due to the following factors: - The return of concerns about the spread of the Delta variant in many countries. - Inflation pressures due to lack of manpower, chips, timber and other materials. - The radical regulatory overhaul by the Chinese government against various sectors such as internet platforms, education and real estate. The evolution of the COVID-19 pandemic probably remains the biggest concern; however, one must be aware that the evolution [...]

With the month of June, the first half of 2021 was close. In this second quarter, equities experienced a good time and this was mainly due to the fact that vaccination campaigns continued to accelerate in most developed economies, especially in Europe which is catching up with the UK and US. This has led governments to loosen restrictions to Covid 19 and as a result, activity levels have increased. As a result, economic data over the past 3 months has generally been very good, especially in the US where there was an annualized growth rate of 6.4% in the first [...]

May was a month marked by concerns related to a possible rise in inflation and implications for Federal Reserve policy. However, confidence has increased, especially thanks to indications that the central bank would stay on course. Major equity indices rose while bond yields remained stable. Volatility, present at the beginning of the month, decreased. Markets began to recover as inflation concerns eased and expectations returned to pre-pandemic 2020 levels. The US SP500 index gained slightly, closing the month with an increase of 0.55%, slightly exceeding the peak reached at the end of April. On the other hand, the Nasdaq index [...]

April passed in review as a positive month for the financial markets. The growth in equity markets was driven by the favourable economic outlook. Better management of the pandemic, with a global trend towards reopening business, will lead to growth in the global economy as a whole. The quarterly results published so far are proof of this, with companies benefiting from a significant increase in turnover and profits. With a strengthening macroeconomic scenario and rising corporate profits, it is likely that the optimistic trend will continue in the coming months. However, as always, when sentiment is generally positive and there [...]

The rise in US long-term bonds yields continued in March, with the 10-year treasury rising to around 1.75%, approaching the 2% observation threshold set by the FED. At its March meeting, the FED maintained its position by confirming monetary policy and keeping reference rates unchanged. This movement also continued on European and Swiss government yields, although less markedly. The reasons for the upward trend in dollar bond yields are linked to the prospect of an improvement in macroeconomic data and a positive development in the health situation. In fact, President Biden announced that he had reached his goal of 100 [...]

Market dynamics in February were marked by strong volatility, especially in the last week of trading, which wiped out much of the monthly performance. All because of the prospect of faster than expected inflation growth. This expectation increased investors' fears that central banks will have to tighten monetary policy measures sooner than expected, which has led to a sharp sell off on government bonds and a rise in the yield on the 10-year US Treasury. In the United States, where the economy is recovering, the 5-year breakeven inflation rate, a rate that is an indicator of market expectations for [...]