Market update

Geopolitical tensions – September market update

What happened in the markets?

US equities shook off extreme weather conditions and geopolitical tensions, while a weaker euro helped European equities deliver solid returns over the month.

  • UK equities were the laggards over the month as sterling strengthened on the prospect of higher rates. This was despite solid returns from the oil & gas sector, linked to higher commodity prices
  • Hawkish Central bank comments and the improved probability of Trump delivering a tax package of some sort drove core government bond yields up from their lows at the start of September, which resulted in weaker returns in fixed income markets
  • The re-emergence of the reflation trade later in the month was also visible in the sector returns, with financials and energy generally outperforming, while precious metals prices were weaker


We hope you have found this update helpful. Please do get in touch on 020 7189 2400 or email if you have any queries or would like more information.

Important information

The value of investments, and the income derived from them, can go down as well as up and you can get back less than you originally invested. This is not a personal recommendation or advice to invest. Past performance is not a guide to future performance.



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US data distorted by extreme weather – weekly update 9 October