Please find below our Weekly Market Update for the week ending 28th June 2019.
Blue Sky Comment
The weather is hot and the markets are warm!
I thought this week we would take the snapshot from today’s update at Bloomberg
American equity futures climbed alongside European stocks on Friday ahead of the highly anticipated U.S.-China presidential meeting that could determine the next chapter in the trade war. Asian shares edged lower, while bonds drifted.
On the final trading day of the month and quarter, global equities are sitting on gains of almost 6% for June and bonds are on course for the best month of 2019 amid expectations central banks will loosen policy to arrest an economic slowdown.
All eyes now turn to the G-20 gathering in Osaka, where Presidents Donald Trump and Xi Jinping will meet to seek a breakthrough in the trade war. Trump on Friday said while he hasn’t promised not to issue new tariffs on China he does think “at a minimum” Saturday’s meeting will be “productive.” Meanwhile Xi warned that “bullying practices” won’t work, without mentioning Trump by name.
“Potential disappointment has risen as markets have priced in what we call a can-kick’’ in U.S.-China talks, said Jay Pelosky, chief investment officer of TPW Investment Management. Even so, continued negotiations along with central bank easing and a bottoming in the global slowdown “is going to be constructive for risk assets in the second half.’’
Enjoy the weekend
Blue Sky Investment Team