Our Head of Investment Management, Matt Brennan, reviews the performance of global markets during the second quarter of 2021 – a broadly positive quarter, in which equity markets continued to march higher, while bonds and quality stocks bounced back from market lows.
The quarter saw Japan lag behind, whilst 10-year inflation expectations picked up. The pound was unchanged against the dollar, but still showed strong appreciation over one year against ‘safe haven’ currencies. And though inflation measures moved higher globally, the trend is still seen by most market participants as transient in nature.
Matt goes on to explore what this all means for our Passive, Active and Pactive MPSs, and concludes by offering his outlook on the remainder of 2021 as economies start to recover, but risks still remain following the emergence of the delta variant.
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