PRIME Funds Q2 2019 update proved positive for both equities and bonds, helped by clear signals from central banks that they are prepared to relax monetary policy to support economic growth. Bolstered by this prospect, equities rallied through June. Emerging markets (EM) failed to keep pace with their developed market peers, although there was a broad range of returns within the EM universe. Concerns around US-China trade talks, mixed economic data and heightened geopolitical tensions rattled markets at times, but sentiment improved in June as investors began pricing in US rate cuts as soon as July. The US economy continued to expand more quickly than European and Japanese economies.
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