What goes down must come up! Three months after one of the worst years on record, investors have seen world stocks and key commodity markets roar back with their best first quarter since 2012.
Chief investment officer of asset manager Prime Partners, Francois Savary, thinks the turnaround has been remarkable. German Bunds - Europe’s benchmark government IOUs - have had their best quarter in three years, making roughly 2 per cent, with the yield on 10-year debt having dropped a week ago below zero percent for the first time since 2016.
The Canadian, Aussie and Kiwi dollars have also done well but as usual the wilder swings have been in emerging markets. Facebook has surged 27 per cent, Amazon 19 percent, Google 12 per cent and streaming giant Netflix has soared more than 30 per cent. The Renaissance IPO ETF, which invests in recently listed companies including Spotify and software seller Okta, has also gained a whopping 31 per cent since the start of the year.
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Commodity prices, investment poised to extend upswingExpected U.S.-China trade deal, tightening oil supply and potential short-covering in beaten-down U.S. grain futures are seen as catalysts
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