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Relatively few Halloween scares – October market update

There were relatively few Halloween scares for investors in October, which was largely a positive month for global investment returns as measures of market volatility remained low by historical standards.

Centre Chris Godding
03 November 2017

Accommodative monetary policy and solid global growth data continued to provide a positive environment for company earnings and equity markets, with a number of markets reaching fresh highs in October.

What happened in the markets?

  • All developed equity markets were in positive territory over the month and notably the US equity market (S&P 500) has now produced positive returns in all ten months so far this year – a first, in 90 years of data
  • However, the standout performers in October were Asian and Emerging Market equities, particularly Japanese equities, which reacted positively to Prime Minister Abe’s Lower House election victory and the expectation that this will result in continued market-friendly policies
  • Commodity prices were also notably strong in October, led by the energy and industrial metals sectors. Fixed income market returns were firmer. This was despite volatility in the month primarily linked to Catalonia, and market speculation surrounding US tax reforms and who the next Chair of the US Federal Reserve will be


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Important information

The value of investments, and the income derived from them, can go down as well as up and you can get back less than you originally invested. This is not a personal recommendation or advice to invest. Past performance is not a guide to future performance.

Funds may carry different levels of risk depending on the industry sector(s) in which they invest. You should ensure that you understand the nature of any fund before you invest in it.