Overall Market Backdrop, July
- The month saw modest to negative returns from Global Equities with Emerging Markets and Asia Pacific (ex-Japan) being the strongest performing regions for the second month running.
- Increasing Covid-19 cases and the resurgence of the US-China geopolitical tensions have driven US treasury yields down from highs of 0.7% to 0.52% in July.
- Momentum was the strongest performing factor for the second month running with a return of 2%.
- Gold spot price has reached an all-time high, hitting a price level of $1,970 per ounce.
- The EU have agreed on a historic £675 billion package to help with European recovery.