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Weekly market review

Week ending 29th April 2016


Stocks

Stocks fell globally at the end of April following mixed corporate earnings results, varied economic growth data, and no further interest rates cuts from the main central banks. The UK and US stock markets were down 0.3% and 1.2% respectively over the week, although the latter experienced its first back-to-back monthly increase since November 2015. Meanwhile, the Eurostoxx 600 fell 1.8%, and the TOPIX fell 4.8% after the Bank of Japan’s (BoJ) unexpected decision to keep monetary policy unchanged.

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Fixed Income

The UK 10 year government bond yield fell slightly last week, closing at 1.596. The BoJ decision prompted 10-Year Japanese bond yields to rise to -0.8%.

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Currencies

After an uneventful Federal Reserve (Fed) meeting, the US dollar too had an uneventful week. In contrast, the euro made a new year-to-date high, hitting $1.15 on the back of better than expected growth numbers and the yen soared to an 18-month high. The People’s Bank of China strengthened the yuan at the sharpest pace since 2005, aiming to keep its currency more in line with its global counterparts.



Commodities

Oil reached its highest level of the year after a government report showed that US crude oil production fell to an 18-month low. West Texas Intermediate crude oil ended the week up at $46.02. Oil has rebounded in the past few months, after tumbling in February to its lowest level since 2003.

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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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