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Bi Monthly Market Update | The ASX 200 is now outperforming the S&P 500 as Australia opens up to the world…

By Jody Fewster

The ASX 200 is now outperforming the S&P 500 as Australia opens up to the world…

  • Geopolitical tensions are still high with the sickening situation in Ukraine causing a humanitarian crisis that also threatens the global growth outlook.
  • The US Federal Reserve raised its rates by 25 basis points for the first time in 3 years to dampen inflation, now at a 40-year high.
  • After a hugely volatile couple of weeks on markets, the S&P ASX 200 finished up 5% in the last week at 7,341 thanks to our commodity stocks.  The index is now only about 300 points from its record high in August and is now outperforming the S&P 500. Year to date the index is -1.39% compared to the S&P 500 at -6.8%.
  • Commodity prices are surging – Nickle +130.9%, European gas +95.4%, Wheat +40.4% and Brent Crude +4.4%. Iron Ore is at $US 143 a tonne and the Aussie dollar is up on the back of that at $US .739c.
  • The latest ANZ Roy Morgan survey shows consumer confidence is now at an 18-month low due to the floods and inflation fears.
  • Current inflation stands at 3.5% and the RBA says it could hit 4% while economists are predicting 5%. Interest rates are expected to rise as soon as June.
  • There are just 7,877 properties for sale in Perth (houses, land and units).
  • Limited supply has buyers scrambling so call me now to see who I have as a perfect match for your home.
Authored by Jody Fewster
Please call 0414 688 988 if I can provide you with a current market appraisal and detailed marketing plan for your home or investment property.
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