After a weak month in September, most markets across the globe bounced back in October. The ASX200 was ~+6.0% for the month, a little behind the +7.2% posted by the MSCI World index driven by a strong bounce across the US and Europe. In the overall make-up of markets very little has changed – the inflationary pressures remains stubbornly high, central banks are focused on reducing this. Business confidence is waning and labour markets remain tight. Consumers are still spending, but this could well be eating into savings and may come to a halt soon.
We remain fairly cautious.
This article has been prepared by Harper Bernays Ltd AFSL No. 230635 for information purposes only; is not a recommendation or endorsement to acquire any interest in a financial product and, does not otherwise constitute advice. By its nature, it does not take your personal objectives, financial situation or needs into account. While we use all reasonable attempts to ensure its accuracy and completeness, to the extent permitted by law, we make no warranty regarding this information.