In November, a bond yield reversal boosted both defensive and growth assets, with growth assets returning 4.9%, Australian equities up 5.0%, and defensive assets outperforming amid eased US inflation and Fed rate cut speculation.
Global shares had a tough September and the US S&P 500 price index was down. However, the Energy sector managed to return 1.3% while all other sectors faced negative returns. The Australian dollar lost 0.3% against the USD$ which benefitted from resilient domestic growth. Despite this, labour markets are still robust.
The 2023 Intergenerational Report highlights critical trends that demand our attention today to navigate successfully into the future.
In July, Australian shares showed positive growth. The Energy and Financials sectors led the gains, however the Healthcare sector faced a decline while the Aussie dollar appreciated against the US dollar. Inflation dropped driven by slower goods inflation, while services inflation reached its highest point since 2001.
During May, Global Share performance was mediocre with Australian shares falling with the broad market index, the S&P/ASX 200 Accumulation Index, losing 2.5%. The best-performing sector was Information Technology, which shot the lights out, gaining 11.6% for the month.