4 to 10 June: Hold on to your hats

Although the main global equity and bond benchmarks were relatively stable last week, this masked a number of large moves in underlying markets. In Brazil and Italy, politics weighed on sentiment, whilst a surprise rate hike in Turkey stemmed recent weakness. Meanwhile, the copper price hit the highest level since 2014 as Chinese imports hit the highest levels since 2000.

This week, several events have the potential to create further volatility:

  • After wreaking havoc at the weekend’s G7 summit, Donald Trump will meet North Korean leader Kim Jong-un in Singapore on Tuesday.
  • The FED is likely to raise rates in the US for the 7th time this cycle on Wednesday, whilst the ECB may alter their forward guidance on Thursday by bringing QE (which has resulted in the central bank owning 22% of European government debt) to an end.
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