Market Insights: Monthly Market Review (July 2015) - J.P. Morgan Asset Management

Market Insights: Monthly Market Review (July 2015)

Contributors Dr. David Stubbs, Global Markets Insights Strategy Team

As the temperature heated up across the northern hemisphere, investors could be forgiven for hitting the beach to avoid the negative news flow. From the Greek negotiations, the collapse of the Chinese stock market and the increasing likelihood of a Puerto Rico default, there was no shortage of things to worry about. Yet most of these events have been localised, contained and of little sustained threat to most investors’ portfolios. Indeed, away from these dramatic events, most developed economies continued to make gradual progress and the outlook for corporate earnings remained positive.

GDP growth in both the US and the UK was shown to have bounced back from the first-quarter soft patch and the debate over the first interest rate increase in both countries warmed up. Economic data out of Europe continued to improve overall, but with significant variations beyond the headline numbers. Countries at each extreme of the spectrum – the true core country Germany on one side and the true periphery countries of Spain and Ireland on the other – remained strong. Yet those countries that fall somewhere in the middle are struggling: data from Belgium and Italy, for example, showed weak growth and increasing unemployment from already elevated levels.

Given the patchy progress of the eurozone, and the muted pace of inflation across the currency bloc, continued European Central Bank (ECB) support is assured. Japan’s economic data has been a bit soft of late, but aggressive asset purchases and changing corporate culture should also support its markets.

In this month’s review, we first examine performance across asset classes before developing deeper in different countries’ equity and fixed income markets.

Download the full report:
Market Insights: Monthly Market Review (July 2015)

Related products

JPM Global Macro Opportunities Fund
Leveraging global macro themes to generate performance. This fund targets positive returns in various market conditions by capitalising on the opportunities created by economic trends within a risk-controlled framework.
JPM Multi-Asset Income Fund
Using a flexible approach that seeks only the best income opportunities from around the globe, our Multi-Asset Income Fund aims to provide investors with a consistent and attractive income stream and the opportunity for capital growth.
JPMorgan Global Growth & Income plc

The JPMorgan Global Growth & Income plc (formerly JPMorgan Overseas Investment Trust plc) seeks out strong long-term returns by investing in a best ideas, high-conviction portfolio from across the world's stock market.

Important information

Please be aware that this material is for information purposes only. Any forecasts, figures, opinions, statements of financial market trends or investment techniques and strategies expressed are, unless otherwise stated, J.P. Morgan Asset Management’s own at the date of this document. They are considered to be reliable at the time of writing, may not necessarily be all-inclusive and are not guaranteed as to accuracy. They may be subject to change without reference or notification to you. JPMorgan Asset Management Marketing Limited accepts no legal responsibility or liability for any matter or opinion expressed in this material.

The value of investments and the income from them can fall as well as rise and investors may not get back the full amount invested. Past performance is not a guide to the future.