October 2017 - ADIFO Global Market Review
Global stock markets were again positive in October, with emerging markets and UK equities rebounding from September losses. Japanese stocks, in which we have recommended a somewhat contrarian overweight position, had a great month, soaring by 8.1%. Bonds fell almost across the board, with only high yield and inflation-protected bonds managing modest gains. The broad JP Morgan Global Aggregate index fell -0.3% but remains up 5.7% for 2017. Within commodities, copper reversed September’s losses and jumped 6%, bringing its YTD performance to 23.4% and up over 40% over the past 12 months.