July 3, 2023

Performance Insights - July 2023

monthly report

Risk rally powers higher in Q2 despite wobbly start

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Resilient economic data (particularly in the US), stable interest rates and a weaker US dollar re-energised global equity and corporate bond markets in June, sending them sharply higher for the Q2 and year to date. Technology and other growth sectors were in the vanguard for most of the quarter, dwarfing the returns of more economically sensitive and defensive stocks.  

Key highlights:

  • Global Asset Classes – Risk rally rides renewed ‘soft landing’ optimism in June
  • Global Equities – Japan and US extend winning streaks
  • Industry returns – Technology stocks soar on AI fever
  • Alternative Indices – Environmental Opportunities gets boost from oil stock slump
  • Factor performance – Value regains traction in June
  • Foreign Exchange – US dollar ends quarter mixed

This report provides actionable insights on global performance across asset classes, regions, currencies, industries and styles, using proprietary month-end data from our flagship index families.

Performance Insights is part of a series of Market Maps reports.

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