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Everything At An All-Time High

Published 04/07/2019, 09:31
Updated 09/07/2023, 11:32

Well perhaps not everything, but a great many market indices have reached new all-time highs. This includes the MSCI World (in EUR), S&P 500, NASDAQ Composite and basically every major bond market index as well.

Investors are buying everything as central banks are expected to cut rates and boost liquidity. Great news for both equities and bonds, hence our return to an overweight in equities in June. But it remains important to look at underlying fundamentals as well. And to be honest, these look a bit sluggish at the moment.

The expected improvement in global growth in the second half of this year is not a given. Nevertheless, it seems too early to go against the strong momentum that is resulting in new all-time highs virtually every day.

MSCI World Index (Eur)

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