The week that was…

In the week ending 28th August, what stole the financial headlines?

The gold price rose as tensions between Ukraine and Russia showed little sign of easing. The Ukrainian president, Petro Poroshenko, says Russian troops have entered the country while Nato claims more than 1,000 Russian soldiers are operating in Ukraine. The crisis, which began in Crimea in late February, seems no closer to a conclusion. Meanwhile, the situation in Iraq remain fraught with the Islamic State controlling vast swathes of the country. US air strikes continued but so too did a reluctance from the West to send in ground troops to stabilise the situation. Elsewhere, there was a collective shrug of shoulders from market commentators as the S&P 500 passed 2,000 for the first time. Despite an upward revision to second quarter growth numbers – to 4.2% from 4.0% – doubts remain over the veracity of the US economic recovery. The lack of wage inflation, in particular, remains an area of concern with less than two months before the scheduled conclusion of quantitative easing.

Headline Hotlist & World/ Asset Returns Source: The BNY Mellon Investment Strategy and Solutions Group (“ISSG”) as at 29/08/14. ISSG is part of The Bank of New York Mellon.

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