Monthly Reports 2021

ECONOMIC REVIEW – JANUARY 2021

January saw divergent performance for shares, with developed market equities ending the month lower while emerging market equities posted positive returns.

ECONOMIC REVIEW – FABRUARY 2021

Global equities gained in February, with lowly-valued parts of the market faring well.

ECONOMIC REVIEW – MARCH 2021

It is now just over a year since equity markets bottomed and MSCI world has rallied 79% since then and is 18% above its pre-Covid highs and up 5% year to date.

ECONOMIC REVIEW – APRIL 2021

US equities made solid gains in April. Q1 GDP growth of 6.4% narrowly missed expectations of 6.7%, and the trade deficit widened.

ECONOMIC REVIEW – MAY 2021

Global equity markets ended mostly higher in May as coronavirus infection rates eased in most developed economies, with the notable exception of Japan.

ECONOMIC REVIEW – JUNE 2021

The second quarter was strong for US equities, and indeed the S&P 500 reached a new all-time high in late June. Almost all sectors made gains over the quarter.

ECONOMIC REVIEW – JULY 2021

Developed market equities gained in July but emerging markets saw a sharp decline as China announced new regulations for the education sector.

ECONOMIC REVIEW – AUGUST 2021

US equities reached new highs again in August. Market worries over the outcome of the Federal Reserve’s annual Jackson Hole symposium.

ECONOMIC REVIEW – SEPTEMBER 2021

Developed market shares were flat in Q3. Declines in September erased prior gains. Emerging market equities underperformed amid a sell-off in China.

ECONOMIC REVIEW – OCTOBER 2021

Global stock markets gained in October, supported by encouraging corporate earnings and an easing of fears around China’s property sector.

ECONOMIC REVIEW – NOVEMBER 2021

Major equity markets ended the month lower on fears that the emergence of the omicron variant of the coronavirus could derail the economic recovery.

ECONOMIC REVIEW – DECEMBER 2021

Equities finished December on a strong note as both the S&P 500 Index and the Dow Industrials rose over 4%.