04 September 2025 | 1 min. readingtime
Last month was relatively calm on the financial markets, with a slight risk-on sentiment. Given the many geopolitical hotspots around the world, policy uncertainty in the US, and the relatively weak economic outlook, this is quite remarkable.
European equities rose by 1% last month and Asia Pacific equities rose by 0.7%. US equities performed even better in local currency terms, with a return of 2% in August. However, as the dollar weakened by 2.4% against the euro last month, the return on US equities measured in euros was negative (-0.3%). Listed real estate and emerging market equities were the two biggest losers last month, with a return of -1%. Emerging markets were affected by trade tensions with the US, including the recently announced 50% tariff on imports from India.
Bonds did not perform particularly well last month. Government bonds were affected by rising interest rates and fell by 0.4%. Investment grade corporate bonds remained flat, while the somewhat riskier high yield corporate bonds showed a slight gain of 0.2%.
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05 March 2026 | 2 min. readingtime
Despite doubts about AI and concerns about possible escalation in the Middle East, February 2026 was another good month for equity investors.
05 February 2026 | 1 min. readingtime
January saw stellar performances on stock markets in Asia and emerging markets. US equities lagged behind, and the dollar fell in value. European capital market interest rates also fell slightly.
05 January 2026 | 1 min. readingtime
Financial market results were mixed in December. In contrast, sentiment in Europe was clearly positive, while capital market interest rates rose there.
