Market Update

Investment markets and key developments over the past week Share markets were mixed over the last week as investors were torn between rising coronavirus cases and US/China tensions on the one hand but indicators of recovery and policy stimulus on the other. US shares rose but gave up some of their initial gains, Eurozone shares fell, Japanese shares rose and Chinese shares surged by 9% or so. Australian shares fell on the back of fears about the economic impact of [...]

Investment markets and key developments over the past week Despite ongoing concerns about coronavirus most major share markets saw solid gains over the last week helped by good economic data, positive vaccine news and policy stimulus. Japanese shares fell 0.9%, but US shares rose 4% in a holiday shortened week, Eurozone shares rose 2.8% and Chinese shares surged 6.8% taking them above their pre-coronavirus highs. The strong global lead also helped the Australian share market overcome concerns about rising coronavirus [...]

Investment markets and key developments over the past week Most major share markets fell over the last week as concerns about "second waves" of coronavirus cases, uncertainty about the growth outlook and geopolitical risks continue to rattle investors. The weak global lead and concerns about rising cases in Victoria also contributed to a fall in Australian shares with sharp falls in energy, industrial, IT and property shares. Bond yields were little changed although they fell in Europe. Oil prices fell, [...]

Investment markets and key developments over the past week Share markets rose over the last week as ongoing signs of economic recovery and stimulus measures helped offset concerns about a "second wave" of coronavirus cases. US shares gained 1.9%, Eurozone shares rose 3.1%, Japanese shares rose 0.8% and Chinese shares rose 2.4%. Australian shares also gained 1.6% helped by the positive global lead with strong gains in IT, energy, telco and consumer discretionary stocks. The rally came after a 6% [...]

Investment markets and key developments over the past week Share markets fell sharply over the last week on concerns about a second wave of cases in many US states and the pace of economic recovery after cautious Fed comments. This came after a huge rally since the March lows - with US shares rising 44% and Australian shares rising 35% - left shares overbought and due for a pause or pullback. Reflecting the weak global lead Australian shares fell sharply [...]

Investment markets and key developments over the past week Share markets continued to power up over the last week as developed countries saw further reopening along with more green shoots of recovery and some countries unveiled more stimulus measures, all of which swamped concerns about protests in the US and ongoing tensions between the US and China. Reflecting the strong global lead, the Australian share market rose to its highest level since early March with very strong gains in banks, [...]

Investment markets and key developments over the past week Share markets continued to rally strongly over the past week as economic reopening in developed countries and stimulus measures continued but worries about an escalation in US/China tensions saw gains reduced late in the week. Despite taking a bit of a hit on Friday from worries about US/China tensions, the Australian share market made it to a new recovery high with particularly strong gains in banks, property, telco, energy and consumer [...]

Investment markets and key developments over the past week Major global share markets, with the exception of Chinese shares, rose solidly over the last week on optimism regarding the development of a vaccine for the coronavirus, reopening from lockdowns, dovish comments from US Federal Reserve (Fed) Chair Powell and moves towards a common bond in the eurozone, despite escalating US/China tensions seeing some of the gains reversed. For the week, US shares rose 3.2% reaching a new recovery high, eurozone [...]

Investment markets and key developments over the past week Global share markets pulled back over the last week on worries about "second waves", the economic outlook and tensions with China. Australian shares were hit too with concerns about trade tensions with China and worries about the banks but good gains in materials, telcos and health shares saw the market down only slightly over the week. Bond yields fell slightly as did copper prices, but the oil price rose for [...]

Tuesday night would have been Budget night and Treasurer Josh Frydenberg would have been announcing a budget surplus. But, COVID intervened. There was no budget announcement, and any surpluses have now gone - sacrificed to support Australian households, businesses and jobs. This year, the Treasurers customary budget speech was replaced with a statement to Parliament on the economic impact of the COVID-19 crisis in which he reiterated that the “best way to pay back debt is through productivity enhancing reforms [...]