Market Commentary

March Market Commentary

by Thornbridge

Picture of London buildings (for the article March Market Commentary)

Commentary by Universum Wealth Limited – A Thornbridge Appointed Representative

Global Equity and Bond Markets

Global equity markets made further gains in March, capping off a strong first quarter, as investors looked ahead to the prospect of a rate easing cycle commencing mid-year. In the US, the S&P 500 gained 3.1% while the tech-heavy Nasdaq Composite index added 1.8%. Sharp upward revisions to projections of US GDP remains a key driver for US equities, which have continued to perform well despite the Fed’s restrictive monetary policy. In Europe, the Euro Stoxx 50 index gained 4.2%, reaching its highest level in over 23 years. Japan’s Nikkei 225 surpassed the 40,000 index level for the first time, ending the month with a 3.1% gain (+20.6% YTD). The weak yen (lowest against the dollar in 34 years) has been a major contributing factor to the Nikkei’s strong rally over the last 12 months. The Bloomberg Global Aggregate Bond Index, an indicator for global investment grade bonds, declined 2.1% for the quarter.

Author: Alex Hackett

Alex a Business Development Manager and a member of the investment funds team and is involved in portfolio construction, regulatory reporting, trade surveillance and monitoring.

Author: Thornbridge