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Australian economy, Global economy, news, Equity, Alternative Assets, Fixed Income
The RBA left interest rates on hold, maintaining the same stance now for almost 2 years – a new record of stability. The consumer seems to be shopping again, with retail sales rebounding in April. Unemployment remains stable at 5.6%, and wage prices remain weak. Bond investors earned 3%, and Cash investors +1.8%.
Australian stocks for the financial year added around 13%, keeping in step with the US at around +14%. Earnings growth has helped with these gains, and the Royal Commission has seen bank valuations fall.
The Trade War spat between China and the US added volatility to complacent markets, with the Shanghai Composite being one of the worst performers for the year; shedding 11%.
