Weekly Market Update – 17th March 2023
Investment markets and key developmentsGlobal share markets had a volatile week reflecting the problems in banks but with banking system backstops and hopes of less central bank rate hikes providing some support. US shares actually rose 1.4% for the week having fallen further than other markets the week before in an initial response to the banking problems. But Eurozone shares fell 4.2%, Japanese shares fell 2.9% and Chinese lost 0.2%. Australian shares fell 2.1% playing catchup to the falls in US shares and as global worries weighed [...]
A Finsec View – Why the super cap matters, Aus’s new lifecycle shift, Golf or surfing?, The gold standard and more.
10th March 2023As experts begin to unpack the proposed new tax on super accounts above $3m, the true consequences of the measure are starting to show. And Chalmers is now in full defence mode. In one press conference over the weekend, within a few sentences, he said the word 'modest' five times and 'simple' four times.It's a Shakespearean reminder of Hamlet, where his mother, Gertrude, is asked about the queen in a play who repeatedly states she would not remarry if her husband dies. The famous [...]
Weekly Market Update – 10th March 2023
Investment markets and key developments Global share markets mostly fell over the last week with more hawkish commentary from Fed Chair Powell and worries that problems at two regional US lenders may mean wider issues for banks. This saw US shares fall 4.6% for the week giving up most of their gains for the year to date and Eurozone shares fell 1.8%. Chinese shares also fell 4% but the Japanese share market rose 0.8%. While Australian shares were initially boosted by a less hawkish RBA they [...]
Weekly Market Update – 3rd March 2023
Investment markets and key developments Global share markets rose over the last week with hopes that interest rates won’t rise any more than already priced in. For the week US shares rose 1.9% with a solid rebound from technical support levels, Eurozone shares rose 2.4% and Japanese and Chinese shares both rose 1.7%. Despite the positive global lead, the Australian share market fell 0.3% with gains in resources stocks more than offset by losses in other sectors, particularly financials and property stocks. Bond yields rose further with [...]
Weekly Market Update – 24th February 2023
Investment markets and key developments over the past week It was another negative week across most global sharemarkets as central banks remain hawkish and economic data holds up better than expected which means higher interest rates (at least in the near-term). Sharemarkets also ran up too far in January, so some pull-back from high levels was likely. US markets were down by 2.6% over the week (and are around 17% below their 2021 highs), Australia was 0.5% lower (and 4% below its record highs), Eurozone shares were [...]
A Finsec View – Australia’s Honey Pot, NCC Trap, Retiree Reflections, 2022 Value of an Adviser Report and More
24th February 2023 Any hope that superannuation regulations will remain unchanged again in the next Federal Budget on 9 May 2023 is fading fast. Super was untouched in 2022, but the Financial Services Minister, Stephen Jones, has done enough jawboning to indicate he is ready to strike. And, with Prime Minister Anthony Albanese (National Press Club) making the below comment yesterday, it seems the super wars could be back on. “We said that we would not have any major changes in superannuation, and that is certainly our [...]
Weekly Market Update – 17th February 2023
Investment markets and key developments over the past week Global share markets were mixed over the last week as concerns about rate hikes continue to impact. Eurozone shares rose 1.9% for the week but US shares fell 0.3%, Japanese shares fell 0.6% and Chinese shares fell 1.7%. Australian shares lost 1.2% for the week partly reflecting ongoing concerns about the impact or more aggressive RBA rate hikes on the economy and earnings and company reports pointing to signs of weakening demand with falls led by financials and [...]
Weekly Market Update – 10th February 2023
Investment markets and key developments over the past week Global share markets mostly fell over the last week on hawkish comments from the Fed, higher bond yields and recession concerns. For the week US shares fell 1.1%, Eurozone shares fell 1.3% and Chinese shares fell 0.9% but Japanese shares gained 0.6%. Australian shares also fell 1.6% not helped by more hawkish than expected interest rate guidance from the RBA with falls led by property, health, utility and IT stocks. Bond yields mostly rose on increased interest rate [...]