Global markets advanced over 2% from last week to new record highs, with the S&P 500 Index nearing the end of its best-performing month of August since 1986. The MSCI AC World is now +4.8% YTD, up nearly 50% since the lows in late March. Largely positive news-flow about potential vaccines for COVID-19 and a re-commitment by the US and China to their partial trade deal were the catalysts for the move.

The US Fed announced a major policy shift, saying that it is willing to allow inflation to run moderately above 2% to support the labour market and broader economy. This will effectively allow the Fed to keep rates lower for longer. CLICK HERE