Capital markets performance was mixed in November as political developments took the spotlight from improving macroeconomic conditions and strong earnings results.

Capital markets performance was generally positive in October, bolstered by improving economic growth, strong earnings results, and market-friendly political and policy developments.

Capital markets performance was generally positive in third quarter, bolstered by positive economic data, strong earnings growth, and mild inflation.

Capital markets performance was mixed in August as several exogenous events caused some risk aversion to return to global markets.

Capital markets performance was generally positive in July, bolstered by a weaker dollar and upbeat economic data.

Second quarter saw a continuation of many first quarter themes. Global equities rallied further, led by emerging markets, while US stocks underperformed developed counterparts in USD terms despite hitting all-time highs.

Capital markets performance was generally positive in May, with France’s market-friendly presidential election outcome and the stronger-than-anticipated earnings results observed across regions serving as important drivers.

Geopolitical developments were important drivers of capital markets performance in April, with the French presidential election and growing tensions with North Korea weighing on market sentiment for most of the month until easing somewhat in the final week.

First quarter saw a continuation of the equity rally. Global equities were led by emerging markets; developed markets counterparts underperformed despite both UK and US stocks touching all-time highs during the quarter.

February saw the reflation trade continue for equities but not for other asset classes. In recent weeks, equity and bond markets have seemed of two minds with respect to the outlook.