Equities

Stock market sentiment ended the week on a high note, as US Senators averted a potential debt crisis. Markets finished the week higher in the US, Europe and the UK. In Asia, China’s Hang Seng rose, while the Japanese Nikkei 225 was lower. 

Bonds

Long-dated US Treasury yields rose over the week, and prices fell. US corporate bond issuance was strong, although high yield corporate bond prices fell as growth and inflation concerns weighed on the asset class.

Currencies

The US dollar was slightly higher against the euro and weaker against sterling over the week. The euro fell slightly against both sterling and the US dollar.

Commodities

The price of Brent Crude oil continued to rise last week, finishing the week at above $82 per barrel. The price of oil has been pushed higher by the prospect of a global energy crisis.

Responsible investing

136 countries have agreed on a 15% global minimum corporate tax rate, organised by the OECD (Organisation for Economic Cooperation and Development). The aim of the tax is to prevent companies diverting profits to off-shore ‘tax havens’, where rates are lower.