April market update – continued positive momentum

Chief Investment Officer Chris Godding and Senior Research Analyst Louie French give their commentary on what happened in the markets and global economies over the month of April 2019.

Centre Chris Godding
10 May 2019

Global equity markets continued their positive momentum in April after a good first quarter for market returns. The dovish policy pivots by most global Central banks – reflecting global growth concerns, a positive start to earnings season and an apparent thawing of trade tensions between the US and China – have all been supportive of the market rally and subdued volatility so far in 2019.

What happened in the markets?

  • US equity markets rose to fresh highs in April, while European banks were notably strong over the month as bond yields rose
  • The rise in bond yields resulted in negative monthly total returns for core government bonds, with UK gilts notably weak on stronger domestic data
  • Credit markets performed better, particularly higher beta credit, highlighting the positive market conditions for risk assets and higher energy prices

 

Read our market commentary

 

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