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Monthly report, June 2024

In the latest edition of our monthly report:


We're all addicted to our smartphones!

  • Since the launch of the iPhone on June 29, 2007;

  • Two-thirds of users consult it more than 160x a day;

  • The health side-effects of addiction; and

  • What consequences can we expect for the markets?


Our smartphone habits

Our smartphone habits

 

Assessment of the economic situation

After a series of US economic figures that fell slightly short of expectations, a recent spate of robust data has raised fears of further inflationary pressures. In Europe, wages continue their solid growth.

  • European wage growth remains high;

  • After cocoa and coffee, orange “juice takes off”; and

  • The market only expects one rate cut in 2024.

 

Financial markets during the month

After a bout of weakness in April, equity markets resumed their upward trend in May, but failed to close the month at their highs. Bonds remain more hesitant in the face of rebounding inflation.

  • Markets boosted by Nvidia, but not only;

  • The US 10-year yield hesitates in the face of inflation; and

  • Precious metals and currencies.

 

Comments on investment decisions

First-quarter corporate results, particularly in the US, are encouraging. Sector rotation offers new opportunities. The consolidation of the Japanese market over the past 3 months could lead to a new phase of bullishness. Continue to increase bond duration on price weakness.

  • Equities;

  • Bonds;

  • Precious metals, listed real estate (REIT); and

  • Currencies.

 

Performance summary

  • Equity performances, and

  • Performance of bonds, currencies and commodities.

 

Click here to read our monthly financial markets update report.



Disclaimer

This document has been prepared using sources believed to be reliable but should not be assumed to be accurate or complete. The statements and opinions it incorporates were formed after careful consideration and may be subject to change without notice. The author and distributors of this document expressly disclaim any and all liability for inaccuracies it may contain and shall not be held liable for any damage that may result from any use of the information presented herein. Past performance is not indicative of future results. Values of an investment may fall as well as rise. This document is intended for information purposes only and should not be construed as a recommendation, an offer or the solicitation of an offer to buy or sell any investment products or services. The use of any information contained in this document shall be at the sole discretion and risk of the user. Prior to making any investment or financial decisions, an investor should seek individualized advice from his/her financial, legal and tax advisors that consider all of the particular facts and circumstances of an investor's own situation.


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