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Weekly market review

Week ending 8 July 2016


Equities

The US stock market ended the week up 1.3%, after a rally in employment data and low expectations of a Federal Reserve interest rate hike in July. Furthermore, volatility in the US stock market continued to fall. In Europe, the EuroStoxx 600 index fell 1.4%, as investors continue to assess Brexit’s repercussions. In the UK, some property-related stocks slumped on Thursday before recovering on Friday, and the market finished slightly higher over the week.

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Fixed income

Yields around the globe were lower again this week, as uncertainty around Brexit and concerns around the Italian banking system, boosted demand for safe-haven debt. The US 10-Year Treasury bond yield reached new record lows, closing at 1.36%.

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Currencies

The US dollar Index moved up 0.9%, boosted by Friday’s strong employment report. Weakness prevailed across the European majors, with the euro, Swiss franc, and British pound all lower. In contrast, the Japanese yen resumed its ascent against the US dollar, settling just above ¥100.



Commodities

West Texas Intermediate crude oil dropped to $45.41/barrel following a weak US inventory report. Gold continued its rally as it ended the week up 2.9%, trading above a two-year high, before settling at $1365/oz.

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Source: Goldman Sachs Asset Management. Adapted by FundCalibre. This material is for information purposes only and does not in any way constitute financial advice.