Matthew Leong, Portfolio Analyst and Jonathan Bayes, Chief Investment Officer – Partners Wealth Group, wrap up recent market movements and what we can expect this reporting season.
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This week, investors will be watching U.S. inflation figures closely. We will also get Australian employment figures that are expected to remain strong in June despite lockdowns.
A common Warren Buffet quote is to ‘only buy something that you’d be perfectly happy to hold if the market shut down for 10 years’. Evidently, Buffet’s popularity has waned over the years as holding periods have continued to trend lower.
The Australian economic recovery continues to strengthen, with employment data once again coming in well above expectations. With 115,200 jobs added, nearly four times what was expected, the unemployment rate fell to 5.1% and sits at the same level as Feb
Both the U.S. 10-year and Australian 10-year government bond yields are back below 1.5% as markets viewed another higher-than-expected inflation reading as transitory, given the largest contributors to the reading continue to be supply chain impacted area
Equities had a strong start to June, driven by a rally in energy, whilst bond yields were largely stable despite major economic data releases such as PMIs and U.S. employment figures.
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