RBF UCITS Monthly - June 2015

  • Greece uncertainty caused havoc across all asset classes
  • Fed remain flexible and data-dependant with regards to normalising rates
  • China policy makers continue to deploy easing measures to support economy
  • Global growth remains subdued

Broadly, markets witnessed extreme volatility through the month as the Greece crisis ensued and markets prepare for the Fed to raise rates. Despite the general risk-off theme throughout the month core developed yields witnessed aggressive sell-offs. The yield on the ten-year Bund spiked through the 1% psychological level during the month eventually closing at 0.76%, 28 basis points higher. The benchmark ten-year US Treasury mimicked the move rising 23 basis points over the month to 2.36%; having spiked as high as 2.499% ahead of the retail sales print.

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