Highlights:
-
The US economy is likely to face headwinds from the lagged effects of interest rate tightening and fading fiscal stimulus, as well as a stronger US dollar if a tightening Fed policy remains.
-
A trade war détente was reached between China and the US at the recent G20 meeting in Argentina, but trade issues continue to weigh on markets.
-
Eurozone GDP growth is disappointing, rising 0.2% in the September quarter according to November’s estimate and well down on the expected 0.4% growth.
-
Chinese stimulus has been relatively modest, but more could be forthcoming if the trade war continues to escalate.
-
Australian GDP growth slowed significantly in the September quarter, falling to 2.8% year-on-year from 3.4% in the June quarter.
If you have any questions regarding this report or would like to discuss your portfolio, please contact me directly on Phone 02 9548 3703