Lucy Macdonald, manager of the Brunner investment trust, takes a closer look at the prospects for global equity markets.
Global equities have powered ahead this year. Strong corporate earnings have combined with lower political uncertainty and better economic momentum in Europe to outweigh the impact of monetary tightening in the US and limited delivery on stimulus measures from the Trump administration. Against this background, Europe and emerging markets have outperformed the US stockmarket. Technology has continued to lead the field, with healthcare and industrials also strong. Energy lagged as oil prices weakened again. The key 10-year Treasury bond yield moved up towards 2.6%, then wandered down t...
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