Investment comment
October 2010
The widespread strength of financial markets during the third quarter was a boon to investors, but the simultaneous vigour of usually divergent asset classes appeared 'curiouser and curiouser'.
Thriving, albeit volatile, equity markets suggested that investors had shrugged off their gravest concerns about sovereign debt in Europe (notwithstanding further rumblings in the 'periphery' of the Continent) to dwell instead upon the sustained strength of corporate earnings. On the other hand, falling government bond yields in the most creditworthy nations, the allure of 'safe-haven' currencies such as the yen and the Swiss franc, and the rising price of gold pointed to a more guarded interpretation of events.
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Investment comment
