Investment Institute
Monthly Market Update

June Monthly Investment Strategy - The times they are a-changin’

KEY POINTS
We billed 2024 as the great election year and so it is proving. Mexican, Indian and South African elections all delivered widely expected outcomes, but with twists that led to sharp market reactions.
European Parliamentary elections also delivered broadly as anticipated, but also resulted in a shock French election (30 June/7July) which has weighed on European markets. US elections will come into more focus after the 27 June TV debates.
The UK’s election on 4 July looks set to deliver a comfortable-to-large majority for centrism, in a move that asks if the UK is past peak populism.
Public finances are the near-term concern, stretched in most developed economies with risks of further widening in France and the US.
Central banks remain the guardians of the economy. The ECB and BoC have already eased policy; the Fed and BoE look soon to follow.

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Full June 2024 Monthly Investment Strategy
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    This document is for informational purposes only and does not constitute investment research or financial analysis relating to transactions in financial instruments as per MIF Directive (2014/65/EU), nor does it constitute on the part of AXA Investment Managers or its affiliated companies an offer to buy or sell any investments, products or services, and should not be considered as solicitation or investment, legal or tax advice, a recommendation for an investment strategy or a personalized recommendation to buy or sell securities. Due to its simplification, this document is partial and opinions, estimates and forecasts herein are subjective and subject to change without notice. There is no guarantee forecasts made will come to pass. Data, figures, declarations, analysis, predictions and other information in this document is provided based on our state of knowledge at the time of creation of this document. Whilst every care is taken, no representation or warranty (including liability towards third parties), express or implied, is made as to the accuracy, reliability or completeness of the information contained herein. Reliance upon information in this material is at the sole discretion of the recipient. This material does not contain sufficient information to support an investment decision.

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