Monthly report
Markets struggled in May as US debt-ceiling drama took centre stage
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This year’s stock and corporate bond rallies wavered in May as the protracted political battle over raising the US debt ceiling and the threat of a possible US default kept investors on tenterhooks for most of the month. Tech-heavy sectors enjoyed a robust rebound in most markets, dwarfing the returns of more cyclical and defensive groups that outperformed last month.
Key highlights:
- Global Asset Classes – Cautious mood prevails
- Global Equities – Japan extends winning streak; UK takes a beating
- Industry returns – Technology leads a narrow band of winners
- Alternative Indices – Environmental Opportunity benefits from energy underweight
- Factor performance – Quality back in style
- Foreign Exchange – US dollar revives
This report provides actionable insights on global performance across asset classes, regions, currencies, industries and styles, using proprietary month-end data from our flagship index families.
Performance Insights is part of a series of Market Maps reports.
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