Market update.
My benchmark of the global stocks market is "MSCI ACWI IMI Net Total Return in CHF” as calculated by MSCI. To adjust it for the inflation, I divide its value in CHF by the value of “Landesindex der Konsumentenpreise (LIK)” (“Swiss CPI”) for the previous month.
After, finally, a new ATH was reached on 22.05.2024, with the nominal value 2062.698 CHF nominal, the market turned around. The lowest point of the wave was reached on 4.06.2024 with the value of 1993.37 CHF, nominal -3.4% from ATH, but still +14.7% YTD. LIK for May ticked up by 0.28%. The inflation-adjusted minimum was at -3.6% from ATH, +13% YTD.
Surely, then it went up again. On 20.06, SNB decreased their short-term rate, the CHF got cheaper with respect to other currencies, and the international stocks market benchmark become more expensive in CHF terms. I thought that it will lead to increasing customers prices, but LIK for June actually came unchanged.
As per yesterday, 03.07.2024 my benchmark have reached a new ATH both in nominal terms at 2078.149 CHF and on the inflation-adjusted basis.
It moved +4.3% (both nominal and inflation-adjusted) from the previous lowest point. The YTD gain is +19.6% in nominal CHF, +17.8% in inflation-adjusted CHF.