Dermot and Dr Steve Garth (APW Investment Consultant) discuss some of the key themes that influenced financial markets over the quarter:  

• Over the last 12 months Equities seem to have ignored higher interest rates and have had quite a rally, although in large part the performance has been driven by a handful of high-tech stocks in the US.
• Stock markets have sensed the “terminal rate” for interest rates is close, and with inflation slowly coming down economists now believe a “soft landing” is most likely.
• However, in the last few weeks stocks have come off their highs and bond yields have gone higher as central banks emphasize that rates will remain “higher for longer”
• Complicating the global fight against inflation is the unwelcome surge in oil prices, and the economic slowdown in China.
• This has meant that in the quarter all major asset classes are slightly negative.

For further detail, please download our Quarterly Market Update report below:

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