July 2025 In Review A burst of trade deals from the Trump administration plus the passage of the crowd-pleasing One Big Beautiful Bill Act (OBBBA), helped markets breathe easier in the month of July. While tariffs remain well above pre-Trump [...]
June 2025 In Review June saw a strong rebound across global equity markets, driven by the Information Technology & Telecommunication sectors. Performance was supported by easing trade tensions between the US and China and resilient corporate earnings, especially from US [...]
May 2025 In Review Global investment markets rebounded sharply in May (measured in US dollars), buoyed by improved consumer sentiment, strong corporate earnings, and an easing in global trade tensions, most notably, the partial rollback of tariffs announced on Liberation [...]
April 2025 In Review April 2025 was a volatile yet resilient month for global equity markets, shaped once again by geopolitical tensions & trade policy shifts. Early losses in April were driven by concerns over trade wars and slowing economic [...]
March 2025 In Review In March 2025, markets experienced notable movements driven by policy uncertainty, increased geopolitical tensions and growth concerns in the United States. Global equity markets experienced a challenging month, with the MSCI All Country World Index (ACWI) [...]
February 2025 In Review February was characterized by a risk-off sentiment, due to several bearish narratives. Concerns about growth and stagflation arose from softer economic readings and hotter inflation measures. Uncertainty around Trump’s trade, immigration, tax and Ukraine policies added [...]
January 2025 In Review In January, financial markets were driven by technological disruption from China and policy transitions out of Washington. A reported AI breakthrough by the Chinese company DeepSeek led to declines in some technology stocks, notably Nvidia. DeepSeek [...]
December 2024 In Review Global stocks fell in December, with broad-based weakness across all regions, as the US Federal Reserve unveiled hawkish-looking interest rate projections for 2025. The US Federal Reserve reduced its target rate to the 4.25-4.50% region and [...]
November 2024 In Review Global stocks briefly touched fresh highs in dollar terms following the US election, largely driven by the United States. Stocks in continental Europe and Asia suffered most visibly in the face of Trump’s tariff threats, [...]
October 2024 In Review Offshore cash provided the best return for South African investors during October. Markets were pared back in October amid the escalating conflict in the Middle East, the approach of the US election, and strong jobs data [...]
