Monthly Recap July 2021
Global Markets Update:
•USmarkets.USmarketswerestrongerinthemonth,withtheDowJonesup+1.3%andS&P500up+2.3%,asconcernsoverendingofstimulusmeasureseasedafterFedheldinterestratesnearzero(0-0.25%)andChairmanJeromePowellsaidthatdespite the economy’s progress, he was still “a ways away” from raising them.
•Long-datedUStreasuryyieldswerelower,withthe2-Yryieldat0.18%and10-Yryield at 1.22%.
•Europeanmarkets.EuropeanmarketssawmixedresultswiththeStoxxEurope600 Index up +2.0%, UK FTSE down -0.1% and German DAX up +0.1%.
•Asianmarkets.Asianmarketswereloweroverthemonth,withtheShanghaiCompositedown-5.4%,amidneweffortsfromBeijingtooverhaularangeofindustrieswiththegovernmentannouncingitwouldtightenrulesthatletChinesecompanieslistoverseasandreviseitsIPOapprovalprocess,andbanningschooltutoringcompaniesfrommakingprofits,raisingcapitalorgoingpublic.Nikkeiwasdown -5.1% and KOSPI declined -2.9%.
•Commodities.Overthemonth,WTIoilpricegained+1.6%toUS$73.95/bbl. Iron ore prices declined -15.4%toUS$178.63pertonne,whilstspotgoldgained+2.5%toUS$1,814 per ounce.
• ASX performance. The ASX200 gained +1.1%.
Banyantree_Monthly_Report_July-2021