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Weekly market review

Week ending 15th January 2016


Stocks

Global equity markets continued their disappointing start to the New Year, sending the US stock market to a 15-month low of 1,880. The STOXX Europe 600 Index (which represents 600 companies of different sizes across 18 countries of the European region) fell 2.88%, and the Shanghai Composite Index finished the week down 9%, extending its 2016 loss to 18%. Further volatility is expected in the coming weeks.

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Fixed Income

Bond yields globally fell to record lows this past week due to high demand for low-risk assets. The Japanese 10-year bond yield fell to 0.22%, while the US 10-year Treasury yield ended the week at 2.03%.

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Currencies

The US Dollar index was roughly flat due to weaker economic data. The euro ended the week trading just above $1.09, while the British pound is down 10% against the dollar since June last year.



Commodities

Oil prices ended their third weekly drop this year with West Texas Intermediate (the main benchmark for oil consumed in the US) crude oil declining 11.3% to $29.4 per barrel. Risks of lower prices remain, as inventories continue to build due to existing oversupply, rising global growth concerns, and an unusually mild winter.

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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.


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