Investment market insights
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Monthly commentary, February 2021
Posted: 30 Mar 2021
A year on from the first locally acquired cases of COVID-19 outside of China, physical and social distancing remains, however, economic data indicates economies around the world are on the road to recovery.
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Monthly commentary, January 2021
Posted: 30 Mar 2021
We look forward to 2021 being a year of recovery - both in a physical and economic sense. January saw the continued rollout across North America, Europe and Asia of three major vaccines, the second impeachment of former President Donald Trump, the inauguration of President Joe Biden and the rise of the Reddit community.
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2020 Year in Review
Posted: 10 Feb 2021
2020 was an unprecedented year on many levels. For the first time in many of our lifetimes, we experienced physical shutdowns and social restrictions across the global economies in response to the COVID-19 pandemic, widespread economic recessions, dramatic market crashes with corresponding recoveries at velocity never seen before and geo-political tensions reaching boiling point on many fronts.
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Monthly commentary, December 2020
Posted: 10 Feb 2021
As 2020 drew to a close, the final month of what had been an unprecendented year on many levels well and truly ended with a bang. In the month of December we saw the US Share markets continue to trade at all time highs, a Brexit deal reached, Australia - China trade tensions boil, new strains of COVID-19 emerge and ongoing battles on the result of the November 3rd US Presidential Election.
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Monthly commentary, November 2020
Posted: 11 Dec 2020
This month saw record COVID-19 infections across US and Europe with many countries heading back into physical lockdowns. November also saw mixed economic data and a new US President elect. Despite all, the strong hopes of a vaccine before Christmas led our local share market to have one of its strongest months since 1988.
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Monthly commentary, October 2020
Posted: 24 Nov 2020
With COVID-19 cases sparking renewed concerns for a number of nations worldwide, both corporates and governments continue to adjust their strategies to account for the persisting economic impact of the pandemic. Polling data predicted a victory for the Biden Administration in the US Presidential Election.
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Monthly commentary, September 2020
Posted: 29 Oct 2020
Global markets reacted negatively to the continued uncertainty sparked by the COVID-19 pandemic. Australians eagerly awaited the upcoming Federal Budget, which will weigh heavily on the strength of the economy as it recovers. The race for the US Presidental election is 'heating up', with investors bracing for the eventual economic impact.
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Monthly commentary, August 2020
Posted: 25 Sep 2020
In August, there were varied levels of confidence across economies globally. While there are positive signs of recovery, the fear remains as we continue to see a 'second wave' of COVID-19 cases. The effectiveness of new stimulus introduced by Governments and Central Banks will weigh heavily on the success of the global economic recovery going forward.
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Monthly commentary, July 2020
Posted: 28 Aug 2020
Over July, varying economic results were reported throughout the world. While the hunt for a successful COVID-19 vaccine continues, Governments and central banks are focusing on new and additional forms of stimulus and relief, to the support the dire economic state of many nations at present.
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2019/2020 End of Financial Year Commentary
Posted: 4 Aug 2020
FY 2019/20 began with strong momentum across most financial markets. However, as the year progressed, unemployment drifted higher, and coupled with benign inflationary pressures, many countries began to lower interest rates further in response. As the financial year headed towards March, the COVID-19 coronavirus rapidly spread across the globe, with containment measures shutting down entire economies. The impact of this economic shutdown appears to have reversed much of the economic and financial progress over the last few years and the world now finds itself in unprecedented circumstances. Major economies are now focused on delivering stimulus to support stability as the world battles containment of the pandemic.
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Monthly commentary, June 2020
Posted: 24 Jul 2020
June experienced continual, albeit slower economic growth against the last 2 months of surprise positive news. While most countries appear to be relaxing restrictions, various second wave outbreaks indicate that this global pandemic is far from over. Black Lives Matter protests have played centre stage throughout the media, with less attention placed on the precarious pandemic related situation that the world remains in.
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Monthly commentary, May 2020
Posted: 24 Jun 2020
Following the surprise market recovery experienced in April, May has seen many indexes continue their early stages of bouncing back. As countries begin to relax their Coronavirus restrictions, the positive effect of reopening major economies has been felt globally. However, some uncertainty remains over how quickly economies can be reopened without risking a second wave of COVID-19 cases.
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Monthly commentary, April 2020
Posted: 27 May 2020
After the significant market decline in March, we saw equities rebound strongly in April. While the pandemic continues to spread, countries that have introduced effective measures in controlling the virus begun putting in place plans to gradually reopen their economies. Governments and central banks continued to roll out stimulus measures to mitigate the damage caused by the economic shutdown providing support to markets over the month. However, depsite the market rebound, uncertainty remains over the pandemic's ongoing impact to societal aspects of how populations will live post COVID-19, and the trajectory of global growth over the coming quarters.
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Monthly commentary, March 2020
Posted: 4 May 2020
With COVID-19 taking centre stage in what has become, over a short few weeks, both a medical and market crisis parelleled only by the two world wars and the great depression in the 1930s, markets over March were impacted with the sharpest declines investors have ever witnessed. The sell-off saw some of the highest proportion of assets underperform cash on a monthly basis for the first time in over 30 years.
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Monthly commentary, February 2020
Posted: 26 Mar 2020
Over the month of February, we saw the Coronavirus (COVID-19) threaten to derail the revival in global economic growth which began in the latter part of 2019. Domestically, the current account recorded its 3rd consecutive surplus. Unemployment rates moved further away from the RBA's goal. Equities were under pressure as the month closed, with the largest weekly declines since the GFC.
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Monthly commentary, January 2020
Posted: 28 Feb 2020
The Coronavirus outbreak has sent ripples through global financial markets; disrupting worldwide trade and supply chains, pressuring asset prices and forcing multinational businesses to make decisions around trade and employee wellbeing. Britain has been hit by a case of Brexit blues as the UK formally left the European Union.
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2019 Year in Review
Posted: 27 Feb 2020
Sluggish improvement in the domestic economy was further dulled by an ongoing US-China trade conflict. The Australian housing market recovered from the large market downturn in early 2019. Internationally central banks were active, with continued global easing of monetary policy. 'Populist' protests across the world centred on civil liberties and climate.
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Monthly commentary, December 2019
Posted: 23 Jan 2020
The US and China have agreed to a 'phase one' trade deal where the US will remove tariffs and China to make structural reforms and change trade practices.
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Monthly commentary, November 2019
Posted: 20 Dec 2019
The Australian economy delivers a back-to-back current account surplus of $7.9bn for Q3. US and China trade talks continue, with a 'phase one deal' potentially sliding into 2020.
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Monthly commentary, October 2019
Posted: 22 Nov 2019
The Reserve Bank lowered the cash rate in early October for the third time this year by 25 basis points to a record low of 0.75%; trade talks between the US and China were initiated in October, a partial deal yet to be agreed on.
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Monthly commentary, September 2019
Posted: 30 Oct 2019
Global oil prices surged mid-September after an attack on Saudi Arabian oil facilities; US-China trade tensions the primary reason for the Federal Reserve's 25bp rate cut; a rise in Australia's unemployment rate lifted projections of an RBA rate cut in October.
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Monthly commentary, August 2019
Posted: 26 Sep 2019
Heightened trade tensions following Trump's August announcement to increase tariffs on China resulted in a bout of market volatility. Fears of a looming recession returned to the markets after the inversion of the US Treasury 10-year-2-year bond yield.
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Monthly commentary, July 2019
Posted: 30 Aug 2019
The RBA delivered a further cut to the cash rate, followed by the US Fed Reserve who lowered interest rates for the first time in 11 years.
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Monthly commentary, June 2019
Posted: 31 Jul 2019
The RBA delivered its first move in its monetary policy since August 2016. Another temporary trade truce was formed between the US and China.
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Monthly commentary, May 2019
Posted: 26 Jun 2019
Trade conflict between the US and China escalated after months of seemingly progressive talks. Prime Minister Theresa May announced her resignation and the search for a new leader begins.
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Monthly commentary, April 2019
Posted: 1 Jun 2019
The first quarter equity market rally continues into April in light of dovish Central Banks and improving Chinese data.
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Quarterly commentary, March 2019
Posted: 30 Apr 2019
Global markets rebound strongly on consumer sentiment following a weak end to 2018. Domestic earnings post strongest quarter returns in almost a decade. Chinese economic policy and optimism in trade truce with the US drive performance in Asia.
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Monthly commentary, March 2019
Posted: 30 Apr 2019
A slowing economy remained a theme over March, while recession risks spooked markets following the inversion of the US treasury yield curve. China delivered on new economic reforms, as the ECB announced renewed liquidity provisions.
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Monthly commentary, February 2019
Posted: 29 Mar 2019
Earnings season at home sees strongest monthly gains in markets since mid-2016. Optimism lifted as the US extends a trade truce with China and progress on the Brexit front.
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Monthly commentary, January 2019
Posted: 20 Feb 2019
Global markets recovered from the tumbles seen in late 2018. Improved sentiment regarding trade talks, US Fed patience, Chinese stimulus and Brexit supported the markets, however global growth has remained subdued and geopolitical concerns remain.
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2018 Year in Review
Posted: 21 Jan 2019
Geopolitical events were the centre focus in 2018 as protectionism has shifted away the trend of globalisation. Global growth slowed through the year whilst markets have seen poor performance and high volatility, particularly in the final quarter.
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Monthly commentary, December 2018
Posted: 21 Jan 2019
Global equity markets continued to fall throughout the month, marking the end to the worst year since the GFC. Economic slowdown fears was a key theme globally in December, as concerns such as the everlasting US-China trade talks, Brexit uncertainty and an oversupply of oil brought instability to markets.