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November 2018 Investment Monthly

Global equity markets sell off
01 November 2018
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    The key takeaways:

    • A recent key development has been higher long-term Treasury yields, following a pick-up in short-term yields earlier this year
    • This has been sparked by strong US economic data, and Fed comments implying that the US rate hiking cycle could be extended for longer
    • We are getting closer to the point where our preference for US equities over US Treasuries is being challenged, but we are not quite there yet
    • Corporate fundamentals are still good. Current valuations suggest global equities remain the best way to benefit from reasonable growth trends