Mercer's Monthly Market summary provides an overview of global financial markets.
Global equity markets continued to advance, pushing stocks to fresh highs and finishing the month with solid gains. Investors have become more optimistic due to the upswing in global economic growth and the potential for pro-growth policies from the Trump Administration. Flows into mutual funds and ETFs have surged following the US elections.
While fundamental growth factors such as GDP growth, reflation and positive earnings forecasts supported the rally, markets seem resilient to the rising political risks. Europe is heading to the polls, starting with the Netherlands on March 15, followed by France on April 23 and Germany on September 24. Credit default swaps on French government debt rose after the right wing candidate Marine Le Pen gained in recent polls. Meanwhile, concerns persist over Trump’s executive order to renegotiate NAFTA, Greece’s unresolved debt agreement and changes in China’s economic team, all of which added to uncertainty.
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