A surprise currency devaluation from China and continued uncertainty over the timing of the Fed’s first rate hike weighed heavily on markets. Commodities remained under pressure as the Chinese devaluation was seen as a tacit acknowledgement by the government that growth in the domestic economy was slowing. The steep fall and intense volatility of the Shanghai Composite rippled through equity and fixed income markets around the globe. The domino effect unleashed a broad sell-off in global equity markets; however, markets did appear to stabilize as the month came to a close.

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About the Author

RBC Dominion Securities Global Limited
RBC Dominion Securities Global Limited -

Elliott Barrow, Kevin Armstrong and Chelsey Walcott are an Investment team representing RBC Dominion Securities Global Limited in Barbados. They provide the broadest range of investment solutions on the island, catering to high net worth private clients, international businesses and captive insurance companies. Investment solutions are available on both an advisory and discretionary basis and the team can be contacted on +1 (246) 467-4366.