June 5, 2023

Performance Insights - June 2023

Monthly report

Markets struggled in May as US debt-ceiling drama took centre stage

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This year’s stock and corporate bond rallies wavered in May as the protracted political battle over raising the US debt ceiling and the threat of a possible US default kept investors on tenterhooks for most of the month. Tech-heavy sectors enjoyed a robust rebound in most markets, dwarfing the returns of more cyclical and defensive groups that outperformed last month.

Key highlights:

  • Global Asset Classes – Cautious mood prevails
  • Global Equities – Japan extends winning streak; UK takes a beating
  • Industry returns – Technology leads a narrow band of winners
  • Alternative Indices – Environmental Opportunity benefits from energy underweight
  • Factor performance – Quality back in style
  • Foreign Exchange – US dollar revives

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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