May Market Digest 2023

Investment Manager, Jack Richards, gives an update on the financial markets for May 2023.

• Global equity markets were mildly positive over May, with the US driving returns. UK equities had a more challenging month largely due to inflation concerns and falling commodity prices.
• Corporate bonds (i.e. debt issued by companies) outperformed government debt, which fell in value after interest rate expectations increased on the back of strong inflation data. Alternative bonds with more of a global focus, like High Yield and Emerging Market Bonds proved more resilient.
• UK CPI inflation fell by less than expected from 10.1% to 8.7%
• Higher risk portfolios outperformed lower risk ones over the month

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