Monthly report

June 04, 2024 - 2 min read

 

In the latest edition of our monthly report:

We’re all addicted to our smartphones!

  • Since the launch of the iPhone on June 29, 2007;
  • Two-thirds of users consult it more than 160x a day;
  • The health side-effects of addiction; and
  • What consequences can we expect for the markets?

 

Assessment of the economic situation

After a series of US economic figures that fell slightly short of expectations, a recent spate of robust data has raised fears of further inflationary pressures. In Europe, wages continue their solid growth.

  • European wage growth remains high;
  • After cocoa and coffee, orange “juice takes off”; and
  • The market only expects one rate cut in 2024.

 

Financial markets during the month

After a bout of weakness in April, equity markets resumed their upward trend in May, but failed to close the month at their highs. Bonds remain more hesitant in the face of rebounding inflation.

  • Markets boosted by Nvidia, but not only;
  • The US 10-year yield hesitates in the face of inflation; and
  • Precious metals and currencies.

 

Comments on investment decisions

First-quarter corporate results, particularly in the US, are encouraging. Sector rotation offers new opportunities. The consolidation of the Japanese market over the past 3 months could lead to a new phase of bullishness. Continue to increase bond duration on price weakness.

  • 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.