News

Optimism related to post-Brexit central bank stimulus continued to buoy global equities in July, even though oil prices slumped and initial central bank actions proved disappointing. Other supportive factors were a reassuring bounce-back in US employment growth, a relatively benign US earnings reporting season to date, and continued cautiousness from the Fed over when it might next raise interest rates. With sovereign bond yields plumbing new lows in the post-Brexit environment, the “TINA” trade – There Is No Alternative to equities – is now in vogue.

Markets shrugged off the Brexit risks, and advanced leaving Australian shares 6.3% higher.

Innovators top world rich list When Prime Minister Turnbull launched Australia’s National Innovation and Science Agenda late last year, he told us that “It’s never been a more exciting time to be an Australian”. Since then, the mantra of being “innovative” and “agile” has been used extensively, along with #ideasboom.

Innovation has spurned a new wave of investment opportunities, with participation incentivised by government and industry policy, but the playing field for investors is not even.

Elections and referendums dominated June, leaving the media, bookies, and voters all puzzled by the results.