With positive gains across most regions in June, worldwide financial markets jumped 0.95 percent in the first half of 2014.
Equity markets gained across most sectors and regions, with US sector gains led by Commodity sensitive, Oil Services, Technology and Biotechnology, with strong performance concentrated in small cap and growth names, though large-, mid-cap and value also gained for the month. European and Asian equities posted mixed performance, with European gains across Spain, Russia and the Netherlands offset by declines across France, Italy, Germany and the UK.
Similarly, Asian gains were led by Japan & Thailand, with China posting a modest gain while Australia and Singapore declined. Gold, Silver and other metals posted sharp increases for the month as oil sustained early month gains on increased Middle East geopolitical tensions. Agricultural commodities experienced a volatile month on unexpected US weather patterns, with large gains in Hogs, Cattle and Lumber offset by sharp declines in Wheat, Corn & Cotton.
Interest rates rose on improving economic conditions in US & Europe, with the US yields rising as the curve flattened on increases in shorter dated yields; European yields were mixed with increases across UK Gilts offset by declines across Germany, France, Spain and Italy. Source: Opalesque