18 July 2023
3 mins
Data continued to show stronger than expected economic activity for both the UK and US. However, this has provided a greater challenge for the central banks’ task of taming inflation
Investment Manager, Jack Richards, gives an update on the financial markets for Q2 2023.
UK inflation fell less than expected, forcing the Bank of England to raise rates by a cumulative 1% over the quarter to 5%.
Global equity markets were up over the quarter, but UK equities posted a negative return.
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.
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