Market Update 23 October 2020 Investment markets and key developments over the past week Global share markets were mixed over the last week being buffeted again by waxing and waning stimulus prospects in the US and ever rising numbers of new coronavirus cases. US and Eurozone shares fell but Japanese and Chinese shares rose slightly. Reflecting the messy global lead Australian shares fell slightly as a rise in bond yields pushed down utilities, telcos and …
Five areas set to benefit from this year’s Federal Budget This year’s Budget saw a big bag of measures announced to get growth accelerating in the Australian economy. Some people and sectors will feel its impacts more than others. Most groups in the Australian community look likely to benefit from this year’s Federal Budget in some way, assuming the measures are enacted (remember, the Budget is not legislation). You can read our detailed analysis of …
Market Update 09 October 2020 Investment markets and key developments over the past week Share markets rose solidly over the past week on hopes for a stimulus deal in the US, whether before the election or after if there is a Democrat clean sweep. Australian shares benefitted from the positive global lead but also from fiscal stimulus in the Budget with the ASX seeing strong gains across all sectors but particularly in energy, financial, IT, material …
Oliver’s Insights: Federal Budget 2020-21 overview The 2020-21 Australian Budget – spend, spend, spend as the focus remains on recovery and jobs, jobs, jobs Key points The Government now expects the Federal budget deficit to peak at a record $213.7bn this financial year. That’s around 11% of GDP, its highest since the end of WW2. The risk is the deficit will be worse at around $230bn. Key measures include earlier tax cuts, massive tax breaks …
ECONOMICS & MARKETS OCT 20 – The impact of the 2020 federal budget on markets and the economy This year’s federal budget is one for the ages, as the Australian government plots the path to post-COVID recovery. Our senior economist, Diana Mousina, and co-portfolio manager, Dermot Ryan, talk through its key features and impacts for markets and the economy. Diana and Dermot will also be available to take your questions. By Diana Mousina Economist – Investment …
Market Update 02 October 2020 Investment markets and key developments over the past week Global share markets mostly rose over the last week helped by dip buying in the US, some hope (which is now fading) for a new US stimulus deal and mostly good economic data. Australian shares fell though, after bucking the trend of falling markets in the previous week and with energy, consumer staple, utility, health and financial shares particularly hard hit. …
Market Update 25 September 2020 Investment markets and key developments over the past week Global share markets fell again over the last week on concerns about rising coronavirus cases, tightening social distancing restrictions in Europe and the lack of progress towards additional fiscal stimulus in the US. Despite a rally late in the week, US shares fell 0.6%, eurozone shares lost 4.2%, Japanese shares fell 0.7% and Chinese shares fell 3.5%. Australian shares however managed a …
Market Update 18 September 2020 Investment markets and key developments over the past week Share markets mostly rose slightly over the last week after two weeks of falls helped by reasonable economic data, anticipation of Fed dovishness, positive vaccine news and M&A activity. However, some of the gains were given up later in the week as tech stocks came under renewed pressure and the Fed did less than some had hoped. Despite the volatility Australian shares …
Market Update 11 September 2020 Investment markets and key developments over the past week The equity market correction that started last week, driven by falls in tech stocks, has continued, and has now broadened out to other sectors. US shares are down by 2.6% and the tech-heavy NASDAQ is down by a larger 4% over the week. But, all sectors in the S&P500 fell over the week and energy was down heavily as the oil …
More action out of the RBA this month to support the economy At its September board meeting, the RBA left interest rates on hold, which was no big surprise. The surprise was in the RBA’s announcement of an extension and increase of the cheap funding it provides to the banks. You might recall back in March, the RBA announced a term funding facility, under which it would provide cheap loans to the banks, locked …
