Overall Market Backdrop, August
- The majority of Global Equities saw modest returns while the S&P 500 returned 5%, hitting an all-time high of 3,510.
- US Treasury yields saw a drastic increase fuelled by the fed’s announcement of a major policy shift. The 10-Year US treasury Yield started at 0.53% at the start of the month and hit highs of 0.74%
- No additional policies have yet been announced for the US and the UK as both regions are rapidly approaching a fiscal cliff with unemployment benefits and business support set to expire.
- Gold spot price reached an all-time high of $2070 per ounce before falling to $1,950 at the end of the month. Growth was the strongest performing factor with a return of 6.4%.
- Covid-19 cases have continued to spread reaching over 25 million cases globally.