Private Investor's Diary Portfolio 

Ranking by risk and reward

Ranking by risk and reward

A poor month for financial markets, with equities giving up some of this year’s gains. Investors became increasingly concerned about a slowdown in global growth as President Trump ramped up the trade war with China. Perhaps President Xi Jinping has read The Art of the Deal as, thus far, China is standing firm and implementing further tariffs of its own. In the UK, prime minister Boris Johnson seemed to be gearing up for an early general election, with spending pledges left, right and centre. With economic growth slowing, government bonds made further gains, with the number of countries seeing their 10-year bond yields turn negative increasing by the day. In a world of negative bond yields, gold becomes more attractive; the argument that it does not pay a dividend holds far less weight. Gold was one of the few positive areas, with the price rising 6.4 per cent to $1529.40 an ounce – its highest since April 2014.

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