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Gerald Fitzgerald’s Market Review January 13th

16 January 2020

 

 

LAST WEEK IN 30 SECONDS...

Global equity markets moved positively last week on the back of an attenuation in hostilities between the US and Iran, in addition to further indications the phase one trade deal will be signed by the US and China. The week ended with markets retreating somewhat as US non-farm payrolls were slightly disappointing.

The reduction in global political tensions saw oil prices slide with US West Texas Intermediate crude oil falling in price by 6.4%. Meanwhile, the yields on high quality government bonds rose marginally over the week with the German 10-year yields closing the week at -0.23%.

 

THIS WEEK IN 30 SECONDS...

Earnings disclosures cranks up this week with financials leading the charge including JPMorgan Chase, Bank of Amercia, Well Fargo and Citigroup disclosing quarterly earnings.

From an economic data perspective, Eurozone industrial production figures are due for release on Wednesday, monthly US retail sales are due for release on Thursday whilst US industrial production figures are released on Friday.

 

GOLD SHINES BRIGHTLY

Traditionally seen as a “safe haven” asset the market uncertainty generated between the US and China in addition to slowing global growth helped gold tick higher over 2019 and into 2020. Whilst equity markets have recently reached all-time highs, gold remains below its all-time high of over $1,900 achieved in 2011 at a time when the Eurozone debt crisis and questions of a global economic downturn were at the fore.

Ger Fitzgerald

By Gerald Fitzgerald, Investment Consultant

Gerald Fitzgerald joined Invesco’s Investment Consulting team in 2015 and has 10 years industry experience assisting clients with their investment & actuarial requirements. Gerald is a Qualified Financial Adviser (QFA) and a graduate of both University College Cork and University College Dublin.

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