Market volatility resumed last week, as markets whipsawed on fears over global trade. Despite that, global markets edged modestly ahead for the week, bringing 2019 YTD returns to 23.7%. Stocks retreated early in the week on more aggressive US trade tactics yet later in the week rallied strongly after the latest US employment report beat expectations. US jobs rose 266,000 in November substantially topping forecasts of a gain of 180,000 jobs, while the unemployment rate fell to 3.5%, matching its 50-year low. The data provides further evidence that recent recession fears may have been unwarranted.
In a busy calendar this week, Thursday’s UK general election and Christine Lagarde’s maiden press conference as president of the European Central Bank are highlights, while in the US on Wednesday, the Federal Reserve Chairman Jerome Powell holds a press conference. CLICK HERE