Investment market insights
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Monthly commentary, February 2018
Posted: 20 March 2018
Stock markets hit the skids in February, unnerved by a sharp rise in bond yields and volatility that resulted from what looked like good news for the US economy. Sparking the falls was news that average hourly earnings in the US rose by 2.9% for the 12 months to January, much higher than expected (and the fastest rate since 2009), which stoked fears of rising inflation. European and Asian markets followed their US counterparts lower in the first half of February. From mid-month, the markets rebounded, although most ended February in the red.
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Monthly commentary, January 2018
Posted: 19 February 2018
Led by US and Asian markets, world markets roared into the New Year, although late in the month, caution crept back into markets after one of the best starts to a year in recent history. It was the best start to a year for the broad US benchmark, the S&P 500 index, since 1987.
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Monthly commentary, December 2017
Posted: 18 Jan 2018
US equity markets surged into year-end, bolstered by strong global economic growth, healthy company earnings and the passage of President Trump's US$1.5 trillion tax-reform package, described as the biggest US tax overhaul since 1986. In Europe, political uncertainty weighed on stock markets, but economic news continued to impress.
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2017 year in review: political turbulence ... firming growth and bullish markets
Posted: 8 Jan 2018
Both the global economy and financial markets are tracking towards their best year since the initial rebound from the 2008-09 global crisis. All this has been despite a more fractious, and unsettled political backdrop. The pickup has also been undeterred by a continued withdrawal of stimulus from the Fed.
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Monthly commentary, November 2017
Posted: 18 Dec 2017
US equity markets pushed higher in November on the back of solid corporate earnings and synchronised global economic growth, although the European markets retreated in November after two straight months of gains, and the UK stock market fell in November as continued uncertainty in domestic politics outweighed confidence in the UK's economic outlook.
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Inside the market with Corrin Collocott
Posted: 8 Dec 2017
BT Chief Investment Officer Corrin Collocott explores the recent strength of equity markets and the implications for the BT investment portfolios and considers whether equities are now overvalued.
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Monthly commentary, October 2017
Posted: 20 Nov 2017
Markets were mostly stronger in October, contradicting investors' fears that the month of October historically has a predisposition to the negative. Synchronised global economic growth and improving company profits continued to be the driving themes.
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Monthly commentary, September 2017
Posted: 20 Oct 2017
Continued signs that the world economy is growing in synchronisation for the first time in 10 years buoyed world markets in September, with improving economic data in the US, Europe and Japan, while China's managed slowdown continues to be closely watched.
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Monthly commentary, August 2017
Posted: 19 Sep 2017
Geo-political concerns were front and centre over August, with North Korea ramping up its missile test program, and President Trump in turn ratcheting up his rhetoric, saw 'safe haven' assets see plenty of action while markets remianed steady.
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Monthly commentary, July 2017
Posted: 24 Aug 2017
US equities were bolstered by improving corporate profit results and economic data in July, despite ongoing challenges facing the Trump presidency. However, markets across Europe and Australia were more subdued. The US dollar continued to depreciate against major currencies.
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Quarterly commentary - June 2017
Posted: 21 Jul 2017
The June quarter was characterised by healthy gains across US markets, despite a late-quarter technology sell-off, indifferent performance from the European bourses and strong rises across Asia, with the exception of China's Shanghai Composite Index.
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Monthly commentary, June 2017
Posted: 19 Jul 2017
Global equities went into reverse over June as our dollar moved higher at the same time as markets were looking for direction when many indices are at record highs. Losses were centered across Europe while the ASX finished the financial year with a solid 14% total return.
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Monthly commentary, May 2017
Posted: 16 Jun 2017
Global equities rose over May amid signs of improving economic growth and healthy corporate earnings. Several key indices hit record highs as pro-European Union candidate Emmanuel Macron won the French presidential election. However, persistent questions about political stability in the US, Europe and elsewhere tempered those gains. Australian equities went into reverse, impacted by concerns of the Bank levy and softer commodity prices.
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Monthly commentary, April 2017
Posted: 17 May 2017
Over the month of April we saw global equities continue their momentum driven rally, shrugging off mixed economic data releases and worries over the outcome of the French election and geopolitical issues surrounding North Korea and Syria.
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Monthly commentary, March 2017
Posted: 02 May 2017
Over the quarter, we saw the majority of equity markets deliver solid gains, underpinned by improving economic data across most developed and emerging markets.
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Monthly commentary, February 2017
Posted: 23 Mar 2017
With twists and turns a continuing theme as we move through Q1, 2017, February finished strongly positive for the major share market indices.
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Monthly commentary, January 2017
Posted: 14 Mar 2017
No doubt the story in 2017 will have its own twists and turns - political, market-related and economic - and expectations may shift, particularly as we start to get more detail around prospective policy changes in the US and a better sense of their ramifications globally.
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Monthly commentary, October 2016
Posted: 22 Nov 2016
The lead up to the US Presidential election was a key focus area for investors during October, along with central bank policies. Most asset classes declined over the month or offered flat performance.
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Monthly commentary, September 2016
Posted: 17 Oct 2016
In contrast to the benign market conditions in July and August, September saw a return to market volatility. Economic risks are easing but central bank risks are rising. Event risks are also elevated as we face a cautious period for local markets.
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Rock-on-omics, August 2016
Posted: 14 Sep 2016
The most remarkable development in August was that so little happened. Calm broke out in markets.
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China: on the right track
Posted: 10 Aug 2016
China has seen enormous growth and development over the past ten years. While it has seen a few challenges of late, there are still a range of opportunities for it going forward from internal development to innovations like electric vehicles and ecommerce. Tim Rocks, Head of Market Research & Strategy - BT Investment Solutions, considers the opportunities.
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Market Outlook July 2016
Posted: 9 Aug 2016
The coming 12 months will be dominated by a number of themes with uncertainty and central bank policies key among them. Tim Rocks, Head of Market Research & Strategy for BT Investment Solutions, discusses the outlook and the impact for investments.
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Rock-on-omics, July 2016
Posted: 31 Jul 2016
Share markets had a remarkably strong month, with the ASX 200 up 6% as investors anticipated a major global policy response to address risks from Brexit.
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BTIS 12 Month Market Outlook
Posted: 27 Jul 2016
It's been a volatile year for markets with investors being challenged at various times by Greek debt concerns, US Federal Reserve (Fed) tightening, capital flight from China and then Brexit.
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A question of inflation
Posted: 31 May 2016
Inflation has become the key concern of our time for central banks, with disappointing results for some economies in the first quarter of 2016. This continues to create challenges globally, with questions over the effectiveness of previous stimulus or the direction of future monetary policy.
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The budget and an economic overview from Tim Rocks
Posted: 3 May 2016
Tim Rocks discusses the Turnbull government's pre-election budget.
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BTIS 12 Month Market Outlook
Posted: 22 Apr 2016
The start of 2016 saw concerns over China, a collapse in oil prices and efforts by central banks to support their economies. Moving into the coming year, there are three key macro themes shaping our outlook for markets.
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Watching the signs
Posted: 22 Apr 2016
There have been indications of growth for some economies while others continue to face challenges in managing deflation.
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Banks, Bonds and Brexit
Posted: 31 Mar 2016
It's all about Banks, Bonds and Brexit and with the RBA holding steady on interest rates, Australia is positioned as a very attractive proposition to global investors seeking a decent return in a world now affected by both negative short term and moreover negative long-term interest rates
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A split in the road
Posted: 26 Feb 2016
Monetary policies have slowly started to diverge, with the US looking at tighter policies while other countries are still focusing on further easing.
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A question of employment and inflation
Posted: 3 Dec 2015
Global markets have continued to be challenged by both economic and geopolitical events in the past few months. Inflation and employment data are universal concerns for central banks in determining policy.
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Preparing for takeoff : Three reasons to be upbeat about Sydney Airport
Posted: 30 Oct 2015
Investing in property means more than just houses, shopping centres, office buildings and industrial warehouses, it can also include infrastructure like airports and toll roads. One such investment is Sydney Airport.
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Moving markets and policies
Posted: 30 Sep 2015
Global markets faced a number of challenges across August and into September. This largely related to the ongoing volatility of the Chinese share market and the decision to devalue China's currency.
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Volatile recovery
Posted: 31 Aug 2015
The continued Chinese slowdown and Greek situation played on markets over July though stronger second quarter data from the UK and US had indicated the chance of rate rises in September.
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BEYOND ZERO: The new order for interest rates
Posted: 28 Aug 2015
The past few years have seen interest rates plummet across most of the globe but, now that recovery is underway in many countries, staying low can interfere with growth.
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Advance Economic Spotlight on China's currency
Posted: 31 Aug 2015
China recently moved to depreciate the yuan, dropping by 4.4% against the US dollar. Tim Rocks, Head of Market Strategy and Research, considers the broad range of implications for investors.
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Advance Economic Spotlight on the Chinese economy
Posted: 25 Aug 2015
Growing concerns about the Chinese economy are causing some weakness across the globe in equity markets. Tim Rocks, Head of Market Strategy and Research, discusses the implications.
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Cause and Effect
Posted: 4 Aug 2015
The Greek debt crisis was the primary focus of markets in June with uncertainty causing ongoing market volatility. Tim Rocks, Head of Market Research and Strategy, BT Financial Group discusses key global economic and financial markets.
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Patrick Farrell - Quarterly Update July 2015
Posted: 4 Aug 2015
Patrick Farrell, Head of Advance Asset Management and BT's Chief Information Officer, discusses what's been the most significant change in global markets over the last quarter and the impact of the US Government shutdown on the markets. Patrick also discusses the US Fed tapering and quantative easing program.
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Economic spotlight on China
Posted: 10 July 2015
The past month has seen the Chinese share market lose more than 30% of its value. Find out the reasons for this and the implications going forward.
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Greece Post the Referendum
Posted: 8 July 2015
Over the past few years, Greece has accepted bailouts from the Troika totalling $US264 billion. It was due to make a 1.6bn Euro payment to the International Monetary Fund on Tuesday 30 June and failed to make the payment.
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The long and windy road
Posted: 30 June 2015
In the aftermath of a number of major events swamping global markets in May, the new month clearly reveals the struggles that each of the major economies face on the long road to sustainable growth.
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The Swing of the Pendulum
Posted: 1 Jun 2015
As the weaker US dollar reverses its recent upward trend against major currencies and China's GDP slows to its weakest pace in six years, which itself will likely see the broader global economy feeling a deflationary draught - the global economic pendulum continues to swing.
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Diverging global growth: an unlikely position of support for bond markets
Posted: 15 May 2015
AMP Capital discuss the challenging global environment and how it has aided bond markets in many ways.
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Game changers in play
Posted: 4 May 2015
After the instability experienced across the globe in the first quarter of 2015, April has seen the price of crude oil finally stabilise, China ease monetary policy, the announcement of a quantitative easing (QE) program in the Eurozone and potential for more of the same in Japan.
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Key market drivers in the March 2015 quarter
Posted: 21 Apr 2015
Patrick Farrell, CIO of BT Financial Group, discusses market trends and themes over the March 2015 quarter and the outlook for the coming quarter.
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On the dragon's tail: will India become the next China?
Posted: 21 Apr 2015
India's growth has been undermined by various hurdles in the past but new reforms may be the catalyst it needs to generate the type of growth China has enjoyed. TT International explores the reforms and outlook for India in this article.
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Oil - the good, the bad and the ugly
Posted: 31 Mar 2015
The price of oil may only be something you think about when you're filling up at a petrol station or when you book a flight and see fuel excises. But if you've been looking at oil prices recently, you would have noticed they've been going down. So what does this mean for investments?
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Interesting Rates of Recovery
Posted: 30 Mar 2015
Despite a slow start to the year, global economic growth is expected to strengthen over 2015 compared to 2014, which reflects the support from accommodative monetary policies, less restrictive fiscal policies, lower oil prices and currency fluctuations.
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The wheel of fortune
Posted: 9 Dec 2014
A volatile October sparked global slowdown fears led by disappointing European data, falling oil prices, continuing geopolitical risks, the imminent end to US quantitative easing, and the prospect of an international currency war resulting from Japanese initiatives.
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Balancing the scales
Posted: 17 Nov 2014
Felix Stephen looks at the factors affecting markets at the moment ranging from geopolitical activity to domestic concerns such as unemployment.
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Patrick Farrell's September Market update
Posted: 15 Oct 2014
Patrick Farrell, Head of Advance and CIO of BT Financial Group, looks at the market drivers for the previous quarter such as the impact of geopolitical risks and the prospects for the quarter ahead.
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The Tipping Point
Posted: 30 Sep 2014
Interest and inflation rates continue to offer a key concern for long-term sustainable growth in global financial markets with interest rates still on hold in many economies. Felix Stephen discusses whether investment markets may be reaching a tipping point.
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Balancing the scales of stability
Posted: 25 Aug 2014
Global politicial turmoil has escalated in recent times, which continues to challenge ongoing economic recovery. Economic results have been mixed with some regions continuing to show signs of positive and sustainable growth while others face deflationary pressures.
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A Mid Year Review - July 2014
Posted: 6 Aug 2014
With subdued activity in Australia and the Eurozone, mixed results in the United States, Japan and China, and positive signs in the UK as we reach mid-year, we ask Felix Stephen, Head of Strategy and Research, at Advance to share his thoughts on how economic recovery is really tracking in key global economies.
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Patrick Farrell's June Market update
Posted: 2 Jul 2014
Head of Advance and CIO of BT Financial Group, Patrick Farrell looks at key growth drivers, Australian economic expansion and shares his insights for the financial year ahead.
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Reflections and Predictions
Posted: 1 Jul 2014
Recent data in Japan, post the April sales tax hike, points to a sharp decline in economic activity despite confidence the economy can withstand this, and in China proposed structural reforms may help drive more sustainable long term growth.
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The path to sustainable growth
Posted: 2 Jun 2014
The global economy continues to show signs of recovery though ongoing concerns such as the Russia-Ukraine crisis, the Fed's tapering of quantitative easing and China's slowing growth will have an impact on the favorable outlook for growth.
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Signs of improvement
Posted: 7 May 2014
The global economy continues to show reasonable prospects for improvement in 2014 despite slight slowdowns in some regions. Felix Stephen, Head of Strategy and Research at Advance Asset Management, considers recent activity in the domestic and international economies and the likely outcomes that could eventuate.
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Patrick Farrell discusses the most significant change in global markets over the last quarter
Posted: 17 Apr 2014
Patrick Farrell, Head of Advance Asset Management, discusses the most significant change in global markets over the last quarter with his first market update for 2014.
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Looking to rebalance
Posted: 24 Mar 2014
Many major economic regions of the world showed some tentative signs of growth for the start of 2014 but challenges remain as they seek to rebalance their economies. The opportunity for ongoing growth continues to be sensitive to a range of pressures unique to each region, such as currency strength in Australia and the Eurozone, or consumer confidence in Japan. Felix Stephen, Head of Strategy and Research at Advance, considers the recent economic data and the likely ongoing outlook for recovery and growth.
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Patrick Farrell: Investment outlook for 2014
Posted: 20 Mar 2014
Patrick Farrell, Head of Advance Asset Management and Chief Investment Officer, BT Financial Group, provides an investment outlook looking forward into 2014.
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Slow roads to recovery
Posted: 28 Feb 2014
The extreme weather experienced in US and Europe has affected economic growth momentum in the start of 2014. Felix Stephen, Head of Strategy and Research at Advance considers ongoing government policies in driving global and regional economies across recent times.
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Patrick Farrell reflects on recent trends in US markets
Posted: 14 Feb 2014
Patrick Farrell, Head of Advance Asset Management and BT's Chief Investment Officer, reflects on recent trends in the US markets.
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Patrick Farrell - Quarterly Update January 2014
Posted: 14 Feb 2014
Patrick Farrell, Head of Advance Asset Management and BT's Chief Information Officer, discusses what's been the most significant change in global markets over the last quarter and the impact of the US Government shutdown on the markets. Patrick also discusses the US Fed tapering and quantative easing program.
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A new beginning
Posted: 28 Jan 2014
As we enter a new year, we ask Felix Stephen, Head of Strategy and Research at Advance to reflect on how key global economies performed in 2013 and share his thoughts on recent world events and the outlook for these economies and financial asset markets in 2014.
Advancement
January 2016
The all-new magazine for Advance investors focuses on market commentary and addresses current topics affecting the financial markets.