The past month reminded us that markets can be unpredictable—one moment focused on inflation, the next on interest rates or currencies. But behind all the noise, one thing stays true: having a clear, long-term plan helps you move forward with confidence.
At Metta Associates, we don’t chase headlines. We focus on what really matters—your goals, your timeline, and your peace of mind. Thank you for continuing to trust us on this journey.
Market & Macro Snapshot
Asset-class performance: Global equities rose +4.6 % over the period (ACWI), helped by resilient earnings and calmer inflation headlines. Core U.S. bonds gained +1.5 % (AGG) as investors balanced rate-cut hopes against sticky prices, while gold added +0.7 % (GLDM) as a modest hedge during tariff and geopolitical discussions.
Inflation update: U.S. consumer prices for June increased 0.3 % m/m and 2.7 % y/y; core CPI held at 2.9 % y/y. Thailand’s headline CPI remained below target at -0.6 % y/y for May, with core inflation near 1.1 % y/y, underscoring a diverging price backdrop.
Central-bank stance: The Federal Reserve kept the funds-rate range at 4.25 – 4.50 % on 30 July, citing still-elevated inflation but slower momentum. The Bank of Thailand held its policy rate at 1.75 % on 25 June, signalling caution amid soft domestic prices and tariff risks.
Sources: MSCI, iShares, SPDR, Bloomberg, Reuters, U.S. Bureau of Labor Statistics, Bank of Thailand, Federal Reserve
Metta Associates's Strategic Reflection
As July unfolded, we were reminded that inflation can return more sharply than expected—and that superficial narratives seldom capture its full implications. For Metta clients, that reinforced two core beliefs: first, that conviction lies in carefully weighted diversification; and second, that adaptive planning matters as much as the plan itself.
Our portfolios remained anchored in global equities with strong fundamentals, complemented by strategic bond holdings and gold as an inflation and geopolitical hedge. We remain vigilant—but not reactive—to headlines, ensuring your strategy responds to evidence rather than emotion.
Latest Insights from Metta Associate
Recent media and financial blogs have proclaimed the decline of the U.S. dollar, as alternative currencies gain traction in trade and central bank reserves. But the reality is more nuanced. Our upcoming Featured Insight unpacks the apparent contradiction: why headline rhetoric suggests a weaker dollar even as data shows its continued dominance in FX markets, international lending, and global pricing.
We explore how narrative and interest diverge—why confidence endures even amid polarization—and what it means for investors navigating currency exposure, global diversification, and reserve trends in a shifting financial environment.
This content is intended for general informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any financial instruments. It does not consider your specific investment objectives, financial situation, or needs. You are encouraged to consult a licensed financial advisor before making any financial decisions.
The information presented is based on sources believed to be reliable; however, its accuracy or completeness cannot be guaranteed. This material does not represent a forecast and should not be interpreted as a guarantee of future outcomes. It has been prepared with care and objectivity to support long-term, planning-focused financial decisions.
