Steady As She Goes

Multi Asset Report 2

In the currency markets, the USD/JPY pair saw a moderate increase over the week, continuing its one-month upward trajectory, which contrasts with a slight three-month decline. This could reflect a short-term bullish sentiment on the dollar or a reaction to monetary policy shifts.

Equity markets have displayed robust health, with the S&P 500 and Nasdaq posting strong weekly gains of 1.37% and 2.31% respectively, and even more impressive growth over the three-month period. This underscores the enduring attraction of U.S. equities amidst global investors, buoyed by a positive earnings season results.

In rare showing Emerging Markets have outpaced Developed over the week, which may suggest a renewed appetite for higher-risk assets or a positive reassessment of growth prospects in these regions.

Global Bonds have retracted slightly, indicating a possible shift of preference towards riskier assets or anticipation of rising interest rates. The U.S. 10-Year T-Bond yield has remained stable, reflecting a balanced view on long-term interest rates and inflation.

In commodities, Gold and Silver have both seen a slight weekly retreat, whereas Oil benchmarks, WTI and Brent, have surged, likely driven by geopolitical developments or supply concerns.

Cryptocurrencies have continued their volatile journey, with Bitcoin and Ethereum showing significant weekly jumps, suggesting increased investor interest or speculative trading in digital assets.

"Risk control is the most important thing in trading."- Paul Tudor Jones

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