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Par Daniel Van Hove, CFA, Managing Director Bellatrix Asset Management S.A.
EQUITY MARKETS
In EUR terms, the MSCI World Index gained 1.81% in October 2010 (and 7.98% for the first 10 months of the year), while the MSCI Emerging Markets index advanced 0.76% (and 18.20% year-to-date).
U.S. equities, as measured by the S&P500 index, rose 3.4% to reach 1,181.96 at the end of October 2010 after surging 7.5% in September (the best month of September since 1939). A lot of this upsurge is explained by a general perception that the second leg of quantitative easing by the Federal Reserve, known as QE2, will help the U.S. economy. Companies continue to report in average strong earnings and bond yields have come substantially down. Actually, many...
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