Market Review Most Recent

Executive Summary  January delivered strong global equity returns, but with clear dispersion. Asia and Emerging Markets (EM) led decisively, while the US lagged amid elevated policy and [...]

Executive Summary  December was a mixed but calmer month compared to October and November. Markets initially rose on expectations of an interest-rate cut, pulled back after the Federal Reserve [...]

Executive Summary  November 2025 was turbulent with a late recovery. Markets entered the month on a dour mood following a “hawkish cut” from the Federal Reserve, and AI-sector specific news added [...]

Executive Summary  October 2025 saw global markets reach new all-time highs despite a volatile start marked by trade tensions between the US and China. Swift diplomatic efforts helped restore [...]

Executive Summary  The third quarter of 2025 marked a robust rebound for global markets, as easing trade tensions, strong earnings, and AI enthusiasm pushed equities to all-time highs. US, [...]

Executive Summary  August 2025 was a strong month for equities, with global markets advancing in both USD and SGD terms. Solid corporate earnings, supportive policy signals, and improving [...]

Executive Summary  July was a fantastic month for stocks, reaching new highs supported by strong AI earnings, low inflation, and a weaker SGD boosting portfolios. Key indices including the [...]

Executive Summary  It has been a tumultuous first half of 2025, with many geopolitical and economic shocks that have begun to reorder the world. However, markets have demonstrated an underlying [...]

Executive Summary  The S&P 500 was up 6.3% in May 2025, one of the best months in history. The rally has been driven largely by tech and communication companies that are either selling [...]

Executive Summary  Stocks had a roller-coaster April and ended higher in USD terms. However, due to the weakness of the USD, returns in SGD turned negative. Foreign exchange (FX) volatility is a [...]

Note: This market review was penned on 7 April 2025. As of 10 April 2025, markets have risen by approximately 10%. However, given the ongoing volatility and uncertainty, we believe the [...]

Executive Summary  February was a challenging month for US stocks, as the uncertainty around how tariffs would affect businesses saw the S&P 500 pull back from its all-time high in the middle [...]

Executive Summary  January was a good month for stocks and bonds; however, stock markets are facing greater uncertainty as the Artificial Intelligence (AI) capex trade that has powered markets [...]

Executive Summary  Providend portfolios have done well over the past four-year period, with 2024 capping off yet another strong year for equities with double-digit returns. While the portfolios [...]

Executive Summary  U.S. equities surged, led by small-cap stocks, which outperformed in anticipation of benefits from Trump’s policy priorities, such as tax cuts and deregulation. The Russell [...]

Executive Summary  October was marked by heightened uncertainty surrounding the US election and a notable rise in US Treasury yields, driven by expectations of increased government debt and [...]

Executive Summary  In September 2024, the stock market marked its first positive month in five years, largely due to a 50-basis point rate cut from the Federal Reserve (Fed) and stimulus [...]

Executive Summary  August 2024 brought sharp market swings, driven by weak U.S. economic data and an unexpected rate hike from the Bank of Japan, which triggered a carry trade unwind and a global [...]

Executive Summary  In July, global equity markets saw strong performance driven by weaker-than-expected inflation and employment data, increasing the likelihood of a Federal Reserve rate cut. [...]

Executive Summary  In June, the global equity markets experienced a significant rally, largely driven by large-cap growth stocks in the technology sector. The MSCI All Country World IMI Index [...]

Executive Summary  In May 2024, global stock and bond markets rebounded significantly, driven by strong corporate earnings, slowing inflation, and increased economic activity in the US and EU. [...]

Executive Summary  In April, the stock market rally paused as both equities and bonds saw significant declines amidst reports of persistent inflation in the US, which reduced the likelihood of [...]

Executive Summary  Equities continued their upward trend in March. However, this time, value stocks shone. Strong performances from the energy, material, industrial, and financial sectors boosted [...]

Introducing the Amundi Index Funds At Providend, we are constantly working to improve our clients’ investment experience by bringing in new funds for our client portfolios. This month, we [...]

Bond yields in January experienced only a marginal increase, even though the Federal Reserve (Fed) ruled out the possibility of a March rate cut. In the initial part of the month, yields moved [...]

The market extended its rally into December, building on the optimism seen in November, driven by expectations of more future rate cuts forecasted by the Federal Reserve. This anticipation [...]

Equities Surged by Nearly 10% In November Following the market declines in October, there was a notable rally in equity and bond markets in November, surpassing the losses incurred the previous [...]

Global Equity and Bonds See the Worst October in Years The equity and bond markets experienced their worst October performance in years following September’s decline, as Treasury yields continued [...]

In September, both the equity and fixed income markets faced a downturn in performance, largely attributed by the escalating U.S. yields. This was caused by an unexpected announcement from the [...]

In the year 2023, volatility has been far from absent. Following the market’s rally in July, the equity market experienced a downturn, primarily attributed by a substantial drop in major [...]