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Market Commentary

October Market Commentary

by Thornbridge

Commentary by Levendi Investment Management LTD – A Thornbridge Appointed Representative

City of London skyline (for the October Market Commentary)

Commentary by Levendi Investment Management LTD – A Thornbridge Appointed Representative

Equities were bruised during October, with the UK, European, and US markets logging a 3.76%, 2.72%, and 2.2% loss respectively.

Risk assets were impacted by a re-evaluation of the path of future interest rates, as well as geopolitical uncertainty, what with the tragic events in the Middle East adding to headwinds.

The US consumer continued to show uncanny resilience with US Q3 GDP data showing an annualized pace of 4.9%, no doubt bolstered by excess savings from lockdown stimulus and elevated government spending.

This strength in turn is raising concerns that rates might need to stay higher for longer or even raised further, discounting revenues further and impacting stock valuations. The good news is bad news mantra isn’t dead just yet.

Closer to home, in the UK and EU, a flight to safety can be witnessed with midcaps being sacrificed for larger caps, perceived to be safer and less rate-sensitive.

Author: Alex Hackett

Alex is 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

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