64 Jolimont Street, East Melbourne VIC 3002

Financial Planning News

Market Update – September 2016

 

Report supplied by Zenith Investment Partners

Key points:

  • The RBA kept the overnight cash rate at 1.50% during the September board meeting. The rate was also left unchanged during the October board meeting. 
  • In fixed income, the 3 Month Bank Bill Swap Rate and the 10 Year Australian Bond Rate rose by 0.06% and 0.04%, respectively, in September.
  • Spreads on Australian corporate debt rose in September, as indicated by the iTraxx Australian Index rising 4.60 points, to end the month at 104.57. 
  • Australian shares were relatively flat, with the All Ordinaries Index declining -0.08% and the S&P/ASX 200 Index rising 0.05%. 
  • Domestic listed property fell by -4.39%, underperforming the broader share market.
  • Global equities recorded mixed results across regions, with Japan the worst performing market, as denoted by the TOPIX (Japan) Index declining -0.51%. The UK added 1.74%, to be the best performer, as measured by the FTSE 100 (UK) Index. 
  • Gold and Oil prices continued their recent uptrend, increasing by 1.04% and 7.00% respectively, in September. Iron Ore prices continued to decline, falling -4.20% in September. The overall CRB Spot Commodity Index fell by -0.19% in US Dollar terms.
  • The Australian Dollar rose against most currencies in September; gaining 1.54% against the US Dollar, 0.92% against the Euro, and 2.54% versus the British Pound, indicating a further depreciation of the Pound. The Australian Dollar fell -0.45% against the Japanese Yen in September.
  • The Australian Trade Weighted Index (TWI) rose by 1.11% over the month, ending September at 63.90.
  • Share market volatility fell marginally both domestically (-0.20%) and in the US (-0.13%).

 

Please click on the following link to gain access to this resource.

Click here to view the August 2016 Market Report
 

 Source:       Zenith Investment Partners



W Marshall & Associates 64 Jolimont Street, East Melbourne VIC 3002

Important: This is not advice. Clients should not act solely on the basis of the material contained in this Commentary. Items herein are general comments only and do not constitute or convey advice per se. Also changes in legislation may occur quickly. We therefore recommend that our formal advice be sought before taking any action. The Commentary is issued as a helpful guide to clients and for their private information. Therefore it should be regarded as confidential and not be made available to any person without our prior approval.