The S & P 500 this week hit an all time intraday high but investors are still holding their positions in safe havens ahead of the G-20 this week.
The US benchmark index fell 7.63% in May as the US/China trade talks broke down and tensions in the Middle East grew. During that period safe havens, such as, the CHF,YEN,Gold and bonds outperformed as investors seek refuge from negative global growth prospects.
Fast forward to today and prior to this weekends risk event, we see that despite the recovery in stocks , safe havens are still in demand highlighting the nervousness of the outcome from this weekends events.
Any disappointment from the US/China summit this weekend will keep demand for safe havens centre stage.
