Equities

Most major stock markets fell last week, as concerns over Covid-19 and economic growth dampened risk sentiment. In the US, the S&P 500 fell 0.6%, while the tech-focused Nasdaq lost 0.7%. In Europe, the Euro Stoxx lost 0.9% - although the Spanish and Italian markets were slightly higher. Chinese stock markets fell sharply, pushed lower by fresh Covid-19 outbreaks and the ongoing debt crisis at Evergrande.

Bonds

US 10-year Treasury yields rose (and prices fell) over the week, on the back of strong retail and manufacturing data. European government bond yields followed suit. Investment grade credit markets were stronger in the US but weaker in Europe.

Currencies

The safe-haven US dollar saw inflows, and the US Dollar Index rose 0.7%. The Japanese yen also rose over the week, while the euro and sterling were weaker.

Commodities

The oil price rose last week, with Brent Crude gaining 3.3% to finish at $75.30 per barrel. Gold was 1.9% lower at $1,754 per ounce. Copper – and the wider industrial metals sector – also fell over the week.

Responsible investing

The US and EU made a joint agreement to reduce methane emissions by 30% over the next decade. Methane has a global warming potential more than 80 times greater than carbon dioxide over a 20-year period.