Several benchmark equity indices reached record-high levels in late March as increases in government bond yields began to flatten.
Global equities gained 3.5% in local currencies and 5.6% translated into DKK according to MSCI ACWI. In March the increases were, once again, led by MSCI DM, up by 4.2%, while MSCI EM fell by 0.9% in local currencies. Despite the strong risk appetite, the returns pattern was somewhat more blurred across equity sectors. In March, returns were led by the Utilities and Consumer Staples sectors, while Technology and Consumer Discretionary generated the lowest returns.
Read the full comment - click here