News & Insights
Here you’ll find our thinking and helpful insights on the latest developments in domestic and global markets.
Investment & Economic Snapshot September 2024
In September, the Australian share market hit record highs. Meanwhile, the U.S. Federal Reserve made a significant move by cutting interest rates by 50 basis points, aiming to stimulate economic growth. China also responded to slowing economic activity by announcing major monetary and fiscal policy stimulus packages. As a result, Chinese shares rallied, with the Shanghai Composite Index climbing by 21%, signaling a positive market reaction to these measures.
Investment & Economic Snapshot August 2024
Global markets experienced significant volatility in August, with the MSCI World Index (AUD) down 1.18%. Weak U.S. labour data sparked recession fears, but optimism grew as U.S. equity markets rebounded on lower inflation and strong GDP data.
Global Market Wrap - July 2024
In the second quarter of 2024, global equity markets, as measured by the MSCI All Country World Index, continued to perform well, rising about 3% in U.S. dollar terms. However, for Australian dollar investors, the gains were more modest, at around 0.5%.
While sectors such as IT, communication services, and utilities led the market's growth, there are still some warning signs ahead—whether political, geopolitical, or economic—that investors should keep in mind.
Watch time: 3:08 mins
Investment and Economic Snapshot July 2024
The MSCI World Index (AUD) gained 4.1% in July, in a volatile month for global equity markets. Australian and U.S. equities reached new all-time highs, while bond markets rallied.
Second quarter trimmed mean CPI measured 3.9% year-on-year, falling from the previous quarter and coming in lower than the 4% market expectation. The quarter-on-quarter rise of 0.8% was also well below the 1% economists had forecast.
Investment and Economic Snapshot FY2023/2024 Year in Review
Inflation and the timing of future rate cuts was a major source of volatility throughout the 2024 financial year. As we entered the 2024 calendar year, there were expectations of up to six interest rate cuts in the U.S. However, inflation has remained stickier than expected and, as the year progresses, there are now question marks if there will be any interest rate cuts this calendar year. The RBA, on the other hand, is still considering whether one more rate hike is required.
Investment & Economic Snapshot May 2024
Global markets rebounded strongly in May following a sharp pullback in April with the MSCI World Index (USD) closing the month higher by 4.53%. The rally was supported by softer growth and labour market data, which lifted market expectations for interest rate cuts in the U.S.
In the local market, the S&P/ASX All Ordinaries ended the month 0.87% higher, while the S&P/ASX Small Ordinaries remained flat, closing down 0.05%.
Global Market Wrap - May 2024
During the first quarter, we continued to see global equities ride a wave of optimism, even as expectations for central bank rate cuts have come down. While that optimism has moderated in recent weeks, much of the market’s buoyancy year to date can be attributed to ongoing enthusiasm for AI due to the far-reaching and accelerating effects generative AI is having on businesses and economics.
Watch time: 2:10 mins
Investment and Economic Snapshot April 2024
After a robust start to the year, global markets experienced a pullback in April, with the MSCI World Index (USD) closing the month lower by 3.67%.
Investment and Economic Snapshot March 2024
March delivered a robust performance for equity markets, concluding a strong first quarter of 2024.
Investment and Economic Snapshot February 2024
Global share markets maintained their strong performance into the new year, with several major equity markets reaching record highs in February.
Investment and Economic Snapshot January 2024
The global financial rally that characterised late 2023, experienced a slowdown as the new year commenced triggering a widespread sell-off in early January and mixed results across financial markets as the month progressed.
Global Market Recap - 2023
In this 2023 Global Market Recap, T. Rowe Price Portfolio Specialist Sam Ruiz, reflects on the events and trends that shaped the global equity markets throughout the year, and provides an insight into the market outlook for 2024.
Watch time: 3:20 mins
Investment and Economic Snapshot Year in Review 2023
Download our 2023 Year In Review to take a look back over the year that was in financial markets and read our outlook for 2024.
Investment and Economic Snapshot November 2023
Global financial markets experienced remarkable gains in November. Equities and fixed income stood out, driven by a shift in the market expectation favouring significant Federal Reserve rate cuts in 2024.
Investment and Economic Snapshot October 2023
In October, the ongoing market downturn that has marked the past quarter persisted. Bond markets faced significant challenges as stronger than anticipated U.S. economic data led to an increase in bond yields in the U.S. and several other major economies, including Australia. This sharp rise in yields had adverse effects on stocks and bonds which fell for the third consecutive month.
Investment and Economic Snapshot September 2023
September’s reputation for being a poor month for markets came to bear, leading to a widespread sell off in equities, bonds, real estate and listed infrastructure.
Investment and Economic Snapshot August 2023
Following strong performances in June and July, global financial markets experienced a downturn in August. Most major financial assets generated negative returns as investors became concerned about the risk of persistent inflation, which could trigger further tightening by the Federal Reserve. Additionally, a lack of significant Chinese stimulus for their sluggish domestic economy contributed to investor pessimism.
Investment and Economic Snapshot July 2023
Global financial markets improved in July, with most major financial assets generating solid returns for the second consecutive month. Asian markets, especially Chinese investable stocks, led the way with relatively strong returns. Emerging Market equities saw a boost in performance due to the Chinese rally. All other major regions posted positive returns in July, with Eurozone equities bringing up the rear, registering a small positive gain of 2.1%. U.S. stocks ended July positively as investors welcomed better-than-expected earnings and hoped for a soft landing for the economy amid cooling inflation and rising interest rates.
Global Market Wrap - July 2023
June proved to be a favourable month across all sectors and regions, largely influenced by what the market has dubbed the 'Magnificent Seven': Apple, Microsoft, Alphabet, Amazon, Nvidia, Tesla, and Meta Platforms. These companies were significant contributors to the overall gains, accounting for almost 50% of the 14% market increase. Notably, the NASDAQ, heavily populated by these tech giants, achieved an impressive 32% year-to-date growth, marking the strongest first half of a calendar year since 1983. While these tech firms excelled, the market remained preoccupied with interest rates and inflation throughout the month.
Watch time: 3:12 mins
Investment and Economic Snapshot FY2022/23 In Review
In a year characterised by its unpredictability, markets have managed to deliver solid results in what has proved to be a better year for economies than broadly expected 12 months ago.