Monthly report

May 02, 2024 - 2 min read

 

In the latest edition of our monthly report:

US tourists invade Europe

  • In Paris, on the Côte d’Azur or in Switzerland, they are everywhere;
  • Americans’ immense purchasing power;
  • Most expensive ski passes in the US in 2022; and
  • The exchange rate of the greenback has changed little in 30 years.

 

Assessment of the economic situation
The US economy continues to grow, while in Europe there are more and more signs of improvement, without however indicating a significant rebound in activity on the old continent. Germany remains in convalescence.

  • The US economy continues to grow;
  • Oil continues to rebound but runs out of steam; and
  • First Fed rate cut delayed.

 

Financial markets during the month
As expected, equity markets finally gave up some of their gains despite April being statistically a favourable month. Bonds faltered in the face of inflation, and gold retreated in the last few days.

  • Equity markets consolidate first-quarter gains;
  • The US 10-year yield up sharply; and
  • Precious metals and currencies.

 

Comments on investment decisions
The expected consolidation on equity markets began in April, offering new opportunities, notably on certain US technology stocks. The bond market is continuing its bearish readjustment, particularly on the US dollar, allowing current levels to extend durations. Gold is “digesting” its recent gains.

  • Equities;
  • Bonds;
  • Precious metals, listed real estate (REIT); and
  • Currencies.

 

Performance summary

  • Equity performances, and
  • Performance of bonds, currencies and commodities.

 

Click here to read our monthly financial markets update report.

 

Disclaimer

This document is directed at Professional Clients and/or Qualified Investors as defined under the rules and regulations of the Financial Services Commission of Mauritius (FSC). PLEION Investment Adviser Ltd is licensed and regulated by the FSC.

This document is solely for your information and under no circumstances is it to be used or considered as an offer, or a solicitation of an offer, to buy or sell any investment or other specific product. All information and opinions contained herein has been compiled from sources believed to be reliable and in good faith, but no representation or warranty, express or implied, is made as to their accuracy or completeness. The analysis contained herein is based on numerous assumptions and different assumptions could result in materially different results. Past performance of an investment is no guarantee for its future performance. This document is provided solely for the information of professional investors who are expected to make their own investment decisions without undue reliance on its contents. This document may not be reproduced, distributed or published without prior authority of PLEION Investment Adviser Ltd.