Global stock markets continued to decline last week. The broadest global index MSCI All Country World weakened by 1.2%. Again, we did not witness any significant catalyst. Therefore it was probably a continuation profit-taking after very strong growth from the previous five months. Since the beginning of the year, the MSCI All Country World index has been exactly at zero now.
According to the Bloomberg Barclays index, global bond markets strengthened slightly by 0.1%, while the average global bond yield to maturity fell by 0.02% to 0.89%.
S&P GSCI global commodity index declined by 2.9%. The price of Brent crude oil declined by 6.6% to $ 40 a barrel. Gold, on the other hand, strengthened slightly by 0.7% to $ 1,940 an ounce.
European Central Bank also met last week, but we did not receive any major news from the European monetary authority.
Investment Strategist at Conseq Investment Management, a.s.