October 2024: no 'Oktoberfest' on financial markets
Unfortunately, it was not an 'Oktoberfest' on financial markets, many asset classes showed negative returns. Only American shares and high yield corporate bonds managed to escape the malaise to some extent.
Real estate was the worst performing asset class, with a loss of more than 8% in October. This is partly because long-term interest rates have risen. Rising interest rates have also not done bonds any good. Government bonds fell by 1% in October and corporate bonds by 0.3%. The riskier corporate bonds performed better with a return of 0.6%.
Global stock markets had a mediocre month in October. European shares fell more than 3% in value, Asian shares almost 2.5% and emerging market shares also lagged behind with a return of more than -2%. The latter can partly be attributed to China, where markets have reacted disappointed to previously announced stimulus measures. Of the equity regions, American shares performed the best, with a return of 1.5% measured in euros. This was mainly due to the appreciation of the US dollar against the euro of more than 2% in October.
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