| Performance since 22/05/17 | +2,1% |
| Weekly performance | -0,7% |
Global Macro Portfolio analysis
Our Global Macro portfolio declined 0.7% this week, primarily reflecting the correction of commodities, which seems to be coming to an end.
On average our 5 commodity ETFs decreased by 1.7%, but this includes a 4.7% increase in aluminum (JJU) and a 6.7% decline for platinum (PGM), which reacts as gold negatively to FED comments, while other variations are more modest.
Gold also weighed, down 1.8% this week.
Bonds remained stable this week, with micro-variations between -0.6% (AGEB: emerging debt) and + 0.3% (Corporate high-yield debt) according to themes.
In regards to equities, the average performance was -0.45%, driven by healthcare (XHS: -2.1%) semiconductors (XSD: -1.2%) and Colombia (ICOL: -1 , 4%), while other ETF’s performance was not enough to offset these decrease.
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