Monthly financial markets outlook | July 2025
Developed market assets ended the second quarter of 2025 strongly, buoyed by robust corporate earnings, easing monetary conditions, and a moderation in geopolitical risks toward the end of the period. The quarter began on a tense note following the announcement of U.S. “liberation tariffs” and the outbreak of a 12-day war between Iran and Israel, […]
Monthly financial markets outlook | June 2025
After three months of subdued performance, global equities rebounded strongly in May. South African financial markets extended their upward trend in May 2025, supported by a temporary pause in U.S.-China tariffs, easing market volatility. The 90 day pause in the U.S.-China tariff conflict in mid-May gave Chinese stocks a short-term boost. However, they lost steam, […]
Monthly financial markets outlook | May 2025
Monthly financial markets outlook | April 2025
Developed markets faced a downturn in February amid tariff concerns, persistent inflation, and soft economic data. The MSCI World Index declined 0.81% in dollar terms, largely driven by US loss of 1.69% as policy uncertainty and weak economic data weighed on sentiment. In contrast, European equities outperformed, with the MSCI Europe ex-UK rising 3.66%, supported […]
Navigating portfolio strategy in a volatile tariff environment
The first few months of President Trump’s second term have been a whirlwind of aggressive policymaking, with sweeping executive actions reshaping both the U.S. economic outlook and global investor sentiment. Key pillars of this new agenda include tightened immigration enforcement, national security, reducing trade deficits and ambitious tax reform proposals. While immigration changes may have […]
Monthly financial markets outlook | March 2025
Developed markets faced a downturn in February amid tariff concerns, persistent inflation, and soft economic data. The MSCI World Index declined 0.81% in dollar terms, largely driven by US loss of 1.69% as policy uncertainty and weak economic data weighed on sentiment. In contrast, European equities outperformed, with the MSCI Europe ex-UK rising 3.66%, supported […]
Monthly financial markets outlook | February 2025
Despite some volatility driven by trade concerns at the start of Trump’s presidency, and the launch of DeepSeek, January marked a strong start to the year for both domestic and global financial markets. A strong start to U.S. corporate earnings, combined with upbeat leading economic data and the continued easing of financial conditions amid the […]
Monthly financial markets outlook | January 2025
As we step into a new year, we are taking a broader perspective in this edition of our newsletter. Rather than focusing solely on the past month (December 2024) as we typically do, we’ll reflect on market performance for the full calendar year and the key themes that shaped investor sentiment. We will also highlight […]
Reminder To Utilise Annual Offshore Allowances
A reminder to investors looking to diversify their portfolios by maximising their offshore allowances afforded by the South African Reserve Bank (SARB): These allowances will expire at the end of each calendar year on 31 December. Under the Exchange Control Regulations, the SARB provides South African resident individuals with a R1 million Single Discretionary Allowance […]