Wyn Thomas - Axys Investment Management

Weekly Market Commentary 12th October 2018

GLOBAL SELLOFF RELENTS AFTER RALLY

Rising US treasury yields, falling US tech stock prices, and incessant tweeting by President Trump were all factors contributing to the global sell-off
this week. President Trump’s tweet questioned the Fed’s tightening policy. It appears the news of the rate hikes took some time to be digested by bond
investors with BlackRock’s debt ETF recording a record outflow of almost $2bn in a single day. The bond market contagion spread to the US Equity
market with technology stocks bearing the brunt of the headwinds. Read more…