What’s on the cards for Australia now that we have a second wave? The Reserve Bank of Australia (RBA) had its August board meeting on Tuesday 4th, and though there were no real surprises, I think we can expect more out of the central bank in the coming months. In its meeting, the RBA made mention of the situation unfolding in Victoria, which is sadly seeing COVID-19 infect more people in the state now than …
Market Update 31 July 2020 Investment markets and key developments over the past week Share markets were mixed over the last week with Chinese shares up solidly and US shares rising slightly on the back of good earnings results, particularly for tech stocks, but Eurozone, Japanese and Australian shares fell on uncertainty regarding the economic outlook. Australian shares were dragged lower by sharp falls in energy, financial, health, property and utility stocks. Bond yields generally fell …
Market Update 24 July 2020 Investment markets and key developments over the past week Global share markets started the past week off strongly with US shares breaking out to new recovery highs, but gains were partly reversed later in the week on worries about the economic recovery in the face of rising coronavirus cases and increasing US/China tensions albeit this still left US, Eurozone, Japanese and Chinese shares up. Despite strength early in the week, Australian …
Australian economic and fiscal update – record budget deficits, but more to come Key points The Government expects the federal budget deficit to peak at a record $184.5bn this financial year. That’s around 9.7% of GDP, its highest since the end of WW2. Ultimately, we expect it to be around $220bn as the Government unveils more stimulus & revenue recovers more slowly than projected by the Government. The budget and associated debt blowout is unlikely …
ECONOMICS & MARKETS After the Bell: daily market update, July 20 20 Jul, 2020 ASX has had a soft start to the week, global markets finished well last week, and the economic impact of a second wave or accelerated first waves. Chief Economist Shane Oliver shares his insights Important information While every care has been taken in the preparation of this video, AMP Capital Investors Limited (ABN 59 001 777 591, AFSL 232497) and AMP …
ECONOMICS & MARKETS After the Bell: daily market update, July 17 17 Jul, 2020 ASX was slightly up today, China has recorded some solid economic data, and COVID-19 cases continue to rise in Victoria. Portfolio strategist Brad Creighton recaps the week that was. Important information While every care has been taken in the preparation of this video, AMP Capital Investors Limited (ABN 59 001 777 591, AFSL 232497) and AMP Capital Funds Management Limited (ABN …
5 common financial mistakes to avoid during a crisis The economic impact of the COVID-19 pandemic is playing havoc with finances for many households. Fran Hughes CFP®, Head of Financial Solutions at Nexia Perth offers five ways to limit the impact at this challenging time. With Australia recording a spike in the unemployment rate of 6.2% due to the coronavirus, it’s only natural that households feel under enormous financial pressure and face uncertainty about their future. Perhaps …
5 ways to help prepare your finances for a recession If you think storms may lie ahead, it makes sense to prepare your craft for choppy waters. With Australia facing continued economic uncertainty, it may be time to take stock of your finances and get in the right shape. First the good news. The Australian economy fared better in the first quarter of 2020 than many other countries¹. To the end of March, the economy …
Econosights: Coronavirus and migration – impacts to Australia from lower population growth Key points Australia’s headline economic growth outperformance (relative to global counterparts) over the past decade has been flattered by high population growth (driven by net migration) over the past decade A fall in net overseas migration into Australia means lower population growth and a hit to GDP growth in the next few years. But this is unlikely to become a permanent change unless …
Market Update 19 June 2020 Investment markets and key developments over the past week Share markets rose over the last week helped by ongoing signs of economic recovery and stimulus measures offsetting concerns about a “second wave” of coronavirus cases. Australian shares also rose helped by the positive global lead with strong gains in IT, energy, telco and property stocks. Bond yields were little changed in the US and Japan but rose in Germany and fell …
