What will 2022 be remembered for?
Annual nominal returns of S&P 500 and US 10y Treasuries 1870-2022; data for 2022 is year to 01/12/22. Source: pre-2021 data from Òscar Jordà, Katharina Knoll, Dmitry Kuvshinov, Moritz Schularick, and Alan M. Taylor. 2019. “The Rate of Return on Everything, 1870–2015.” Quarterly Journal of Economics, 134(3), 1225-1298, post-2020 data from Refinitiv, Fidelity International, December…
A bear market in everything is a reset
The synchronised market declines we have experienced in 2022 have been painful and we are not yet in the clear. Looking forward, improved valuations will allow a greater opportunity to achieve our return objectives via increased expected returns across most asset classes. November provided a welcome rally, triggered by the weaker than expected US inflation…
Evening markets report Fri 16 December
The Aussie market extended its losses to a second straight day, and despite falling by as much as 1.2 per cent, the ASX 200 still shed 56.1pts or 0.78 per cent, to 7148.7. Local losses were broad in nature, with eight (of 11) sectors and around 70 per cent of stocks in the ASX 200…
$84 million boost for medical research
Revised investment criteria and higher returns to boost Future Health Research and Innovation Fund Additional $84 million for medical research and innovation over the next four years Medical research and innovation will improve the health and wellbeing of Western Australians The McGowan Government has announced that – following a review of the Future Health Research…
Jobs Boom Provides Security and Confidence
More Victorians are finding work and building careers as the state’s economy continues to grow and employers look to expand their businesses. Another 30,800 Victorians started work last month – the highest growth of all Australian states. More than 380,000 jobs have been created in Victoria since September 2020, which means the Andrews Labor Government’s…
Finder Wallet sued for alleged unlicensed conduct
ASIC has commenced civil penalty proceedings in the Federal Court against Finder Wallet Pty Ltd, a subsidiary of comparison website Finder.com, for allegedly providing unlicensed financial services, breaching product disclosure requirements and failing to comply with design and distribution obligations (DDO) in relation to its crypto-asset related product Finder Earn. ASIC Deputy Chair Sarah Court…
China banks report drop in forex settlement deficit
China’s banks reported a significant drop in their combined foreign exchange (forex) settlement deficit in November, official data showed Thursday. The deficit last month declined 47 percent from October to 6.3 billion U.S. dollars, according to the State Administration of Foreign Exchange. Forex purchases by banks stood at 185.7 billion dollars, while sales reached 192…
ING Bank pays penalties for alleged breaches
ING Bank (Australia) Limited has paid penalties totalling $53,280 for allegedly failing to comply with Consumer Data Right (CDR) Rules and making a false or misleading representation to consumers, after the ACCC issued it with four infringement notices. The ACCC alleges that ING Bank missed three important legislated deadlines and made a misleading statement to…
Victoria Marks 1000 Home Milestone
The Andrews Labor Government is providing vulnerable people with the dignity of a roof over their head, delivering more than 1000 new homes across Victoria through a program helping to break the cycle of homelessness. Minister for Housing Colin Brooks today marked the significant milestone, with 1068 homes having been built right across Victoria under…
CommSec morning report Fri 16 December
The European Central Bank (ECB) hiked its benchmark policy rates by 50 basis points. The Deposit Facility Rate lifted to 2%. And the Bank of England (BoE) lifted the Bank Rate by 50 basis points to 3.50%, its highest level since 2008. European sharemarkets posted their worst daily performance in six months on Thursday after…
