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    Multi Asset chart of the week

    Multi Asset chart of the week

    12 November 2024 Multi-asset
    Week to 15 November 2024

    US performance on track for record year

    Christopher Broadley, Portfolio Manager, Multi-Asset Strategy Team, said: “The United States is on track for one of its best performing years relative to the rest of the world since the turn of the century. Over the past 15 years, it has outperformed in 13, driven by robust earnings growth that has consistently outpaced global counterparts. This impressive performance is largely attributed to the "Magnificent 7" – Apple, Amazon, Google, Meta, Microsoft, Nvidia, and Tesla – whose price performance and earnings growth have been exceptional. Looking ahead to 2025, there is potential for another strong year in asset returns. However, a key concern remains: how much further can US equity markets rally from their already lofty valuations? This question is particularly significant given the US's dominant position in global equity indices†.”

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    Source: Insight Investment as at 11 November 2024.
    Week to 01 November 2024

    Trump media’s surge against US equity and EU tariff woes against European equity

    Kristin Qi, Portfolio Analyst in the Multi Asset Strategy Team, said: "As we race towards the US elections, markets are likely to experience increased volatility driven by the expected divergent policies between either a Trump or Harris victory. Whilst still a close call over who will win, over recent weeks we have seen a shift in sentiment, partly reflected in the contrasting performance of assets. For example, Trump Media’s outperformance relative to the broader S&P 500 has seen gains, whereas a basket of stocks that could be most negatively impacted by tariffs and any trade war, has particularly struggled†.”

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    Source: Insight Investment & Bloomberg as at 1 November 2024.
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