Q2 2017 Investment Review

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Global equity markets advanced in Q2 with MSCI World returning 4.2% (in US dollars). A strong corporate earnings season and generally positive economic data supported gains, while political risk eased in Europe.

Global fixed income markets generated strong gains in the second quarter as bouts of elevated political uncertainty kept a lid on government bond yields. Despite concerns about prospects for retailers, particularly in the US, generally solid corporate earnings and continued demand for yield-producing assets supported credit markets, and spreads tightened further.