After a three-week slump, the global stock rebounded last week with the MSCI All Country World Index rising 0.8%. U.S. stocks outperformed following comments from Fed Vice Chair Brainard that acknowledged there are risks associated with overtightening financial conditions.
Another strong week for risk assets. The S&P 500 added 3.3% last week – its fourth straight week of gains. The index has now recovered half of what was lost in the first half of 2022 and stands at a year-to-date return of minus 10.2%.
The global equity market continued to push higher last week with the MSCI World Index now up 6.5% over the last two weeks. In the United States, the tech-heavy NASDAQ surged 4.7% as the real 10-year Treasury yield fell sharply last week.
The global equity market struggled to advance last week as investors continued to fret about recession fears. The MSCI World Index slipped 0.9% while the S&P 500 fell by 0.9% and the NADSAQ tumbled 1.6%.
The global equity market has risen in two of the last three weeks with the MSCI World Index climbing 1.6% last week. In the United States, the tech-heavy NASDAQ surged 4.6% while the S&P 500 gained 1.9%.