monthly report
‘Everything’ rally stalls in February as hopes for early rate relief fade
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Stocks, bonds and commodity markets broadly fell in February as investors repriced for a ‘higher-for-longer’ trajectory for policy rates in reaction to signs of slowing progress on inflation and surprisingly resilient economic data. The late-month resurgence in bond yields and US dollar underpinned big reversals in market and sector leadership from a month ago.
Key highlights:
- Global Asset Classes – Rate headwinds strike again
- Global Equities – UK back on top; Emerging markets hit hardest
- Industry Returns – Winners and losers diverged across markets
- Alternative Indices – Big regional dispersion
- Factor performance – Value rotation resumes
- Foreign Exchange – US dollar dominates again
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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