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Financial markets have had an action-packed start to the year. However, exchanges posted mixed performance amidst instability and dislocations resulting from several bank failures and UBS's acquisition of Credit Suisse.
Financial markets have had an action-packed start to the year. However, exchanges posted mixed performance amidst instability and dislocations resulting from several bank failures and UBS's acquisition of Credit Suisse.
Rising interest rates and rampant inflation created massive turbulence in global markets in 2022, the worst year for financial markets since 2008.
After a frenetic start to the year, markets are taking a time out with investors looking for signs that we are near a peak in official interest rates. However, with central banks likely to keep raising interest rates until inflation starts to cool down, it is premature to call a bottom to what has thus far been a torrid year in financial markets.
Exchanges profited from higher than usual trading volumes in the first quarter caused partly by the Russia-Ukraine conflict and rapidly rising interest rate expectations. Volumes have, however, now fallen across all asset classes to a more historically normalised level. The declining volumes are weighing on exchange stocks, and the three months to the end of June saw the FTSE Mondo Visione Exchanges Index down by 13.9%.