The week that was…

In the week ending 26th June, what stole the financial headlines

News headlines were dominated by continued unrest in the Middle East and stalemate in the Russia/Ukraine crisis. US Secretary of State John Kerry visited Saudi Arabia to discuss the ongoing crises in Iraq and Syria – the Obama administration has asked Congress for US$500m to train and equip members of Syria’s opposition. On the topic of Iraq, the likely effect of the country’s turmoil on the oil price is being questioned by many. Although the violence in Iraq has thus far had a limited impact on global oil markets, many commentators believe emerging markets will bear the brunt of any negative consequences. Elsewhere, the Russian government is working on measures to replace imported industrial goods with domestically manufactured ones in an effort to dampen the effect on its economy from its stand-off with Ukraine.

 

Headline Hotlist & World/ Asset Returns Source: The BNY Mellon Investment Strategy and Solutions Group (“ISSG”) as at 27/06/14. ISSG is part of The Bank of New York Mellon.

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