Global markets experienced a notable rally in August despite turbulence in the energy sector. According to UBS, equities rose during the month. Hedge funds managed to hold gains amidst the volatility, with multistrategy hedge funds posting steady returns. Notably, Ken Griffin's Wellington hedge fund at Citadel achieved a 1% gain. The Marshall Wace Eureka Fund ended August down 0.46% for the month but remained up almost 11% year-to-date. Saxo Bank noted that the market performance was influenced by shifting economic winds. Additionally, the unwind in popular yen carry trades contributed to market fluctuations.