North American, Asian investor confidence drops

By Staff | October 30, 2019 | Last updated on October 30, 2019
1 min read

Global investor confidence declined in October, led by gloomier U.S. and Canadian institutional investors, according to State Street Corp.’s latest index reading.

The Boston-based firm reported that its Global Investor Confidence Index (ICI) decreased 0.9 points in October to 79.2, which was driven by a 4.3-point drop in the North American ICI and a 1.5-point drop in the Asian ICI.

Conversely, the European index increased substantially for the second month in a row, it said.

“Even with the stock market reaching new highs, U.S. investor confidence declined further in October,” said Marvin Loh, senior macro strategist with State Street Global Markets.

“Despite a more accommodative Fed, deepening geopolitical risks coupled with historically rich equity valuations in the U.S. appear to be having a detrimental effect on investor sentiment right now,” he added.

The increase in confidence for Europe followed positive developments in the Brexit negotiations and the global trade picture, State Street said.

Advisor.ca staff

Staff

The staff of Advisor.ca have been covering news for financial advisors since 1998.