5%Global economic prospects improved in January and February because of a rebound in China’s economy following the end of its zero-Covid-19 policy in December 2022 and stronger-than-anticipated demand in the US and eurozone. Over the quarter as a whole, global equities and global bonds rose 4.53% and 0.21% respectively in sterling.
Download this articleThe Federal Reserve, European Central Bank (ECB) and Bank of England all tightened monetary policy on two occasions over the final quarter of 2022, with one rise in their official interest rates of three quarters of a percentage point followed by an increase of half a point.
Download this articleGlobal equities and global bonds fell 6.71% and 6.94% respectively in dollar terms over the quarter. They did, however, rise 1.49% and 1.24% respectively in sterling as a result of the pound’s 8.08% fall against the dollar, a fall that took its decline to 17.58% since New Year.
Download this articleGlobal equities and global bonds fell 15.53% and 8.26% respectively in dollar terms over the second quarter of 2022 but only 8.42% and 0.54% respectively in sterling because of currency movements. UK government bonds, sterling investment-grade corporate bonds and sterling high-yield bonds fell 7.86%, 7.83% and 9.10% respectively.
Download this articleGlobal bonds fell 3.47% in sterling over the rst quarter of 2022 in response to rising ination and interest rates, with the pound’s weakness masking greater losses in some overseas markets. UK government bonds fared worse, falling 7.46%, while sterling investment-grade corporate and high-yield bonds lost 6.63% and 3.39% respectively.
Download this articleGlobal equities rose 6.29% in sterling over the nal quarter of 2021, ending the year up 20.14%. US stocks outperformed, rising 10.53% in sterling over the quarter, buoyed by US technology stocks, which gained 13.53% as investors braced themselves for more lockdown restrictions in response to the Covid-19 Omicron variant.
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