April was another month of generally positive returns led by Equities, with an average return of 3.5% (MSCI World). Equities across all major geographies performed well but US equities, and particularly technology stocks, outperformed overall. Fixed Income returns were generally flat, with High Yield Bonds performing the best with a return of 1.39% and Gilts the worst performing at -1.68%.
Markets continued to view Fed policy as the driving force behind stock market movements, with traders assessing and analysing every word from Fed Chair Powell or indeed his wider team.
The ongoing trade war between the US and China continued, with President Trump adding fuel to the fire by tweeting several inflammatory comments.
Back home, the UK’s domestic facing companies have performed extremely well over the past month, with the IA UK Smaller Companies and FTSE 250 generating 5.85% and 4.22% respectively.
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