Monthly global house view & investment perspectives
Global equity markets have been rangebound for some time and the trend continued in May with a 1.25% drop in the MSCI World index, most of which came on the last trading day of the month. Even if some elements of concern regarding the economic situation seem to have diminished, the risks remain mainly to the downside for growth. Nonetheless, corporate earnings beat expectations, especially for technology companies, reinforcing confidence that markets can continue to rally.