FAST FIVE: The Best And Worst Performing Assets In June, Q2 And 2020 YTD
In our view, everything has to go right for equity markets to be right.” But while the disconnect between risk assets and underlying fundamentals has never been greater as even major banks admit, here is a recap of what worked in June, in Q2 and 2020 YTD courtesy of Deutsche Bank's Jim Reid, who writes that “June saw another strong performance for risk assets, capping off an astonishing quarter that has seen all 38/38” of DB's non-currency assets with a positive return over the last three months.
While that comes on the back of an appalling Q1 when financial markets reacted to the coronavirus pandemic, the gains from Q2 now mean that 13/38 of DB's non-currency assets are now positive on a YTD basis as well in local currency terms.
Looking at the quarter as a whole, WTI and Brent are top of the leaderboard, with returns of +91.7% and +81.0% respectively, making it the strongest performance for both since Q3 1990 when the Gulf War broke out.
And on a quarterly basis, its +21.8% return is the best since Q3 2010.
Meanwhile, the only index in DB's core sample that is actually positive on a YTD basis so far is the NASDAQ, which extended its YTD gains in June, and now has a +12.7% return since the start of the year.