Overall Market Backdrop, August

• Developed markets struggled in August as they continue to battle against high inflation, monetary tightening and lower growth expectations.
• The US 10-Year Treasury yields saw a change in trend and dropped by 33 basis points, ending at 2.64%.
• Momentum was the best performing factor for August, returning 1.91%.
• In the UK we saw the Bank of England increase the bank rate by 50 basis points after a convincing 8 votes to 1.

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