Optimism related to post-Brexit central bank stimulus continued to buoy global equities in July, even though oil prices slumped and initial central bank actions proved disappointing. Other supportive factors were a reassuring bounce-back in US employment growth, a relatively benign US earnings reporting season to date, and continued cautiousness from the Fed over when it might next raise interest rates. With sovereign bond yields plumbing new lows in the post-Brexit environment, the “TINA” trade – There Is No Alternative to equities – is now in vogue.

Read the Betashares Global Market Outlook for August 2016

Published with permission from BetaShares Capital Limited (ACN 139 566 868 / AFS Licence 341181).