Insights

In June, sentiment was dominated by both geopolitical developments and evolving trends in Artificial Intelligence (AI). Investors welcomed news of an interim peace accord between the US and Iran and the reopening of the Strait of Hormuz.

In April, sentiment was reinvigorated and risky assets got some much-needed reprieve after the worst meltdown since the global financial crisis. Investors welcomed some tentative signs that the COVID global infection curve may be flattening, which sparked discussions about re-opening the economy.

The macroeconomic outlook continued to gather momentum heading into the second quarter as the global vaccine campaign accelerated, while plans for large-scale fiscal spending in the US also emboldened calls for a rapid recovery through 2021.

The fastest bear-market recovery in history showed little sign of wavering in August. Investor optimism remained buoyant on signs of progress in developing a vaccine to quell the pandemic, which helped to instill confidence in a swift global economic revival.