As at the 30 September 2022
Observations from September.....
Global share markets fell over the month in response to continuing hawkish central bank comments and recession fears. The ASX indices tracked the sell-off.
In the US, the S&P 500 racked up its third consecutive quarterly loss as the effects of a contracting money supply continues to be assessed.
The UK government announced substantial debt-funded tax cuts – but this only served to trigger a surge in bond yields and a plunge in the pound. The Bank of England had to intervene to calm the gilt market by buying bonds.
Global uncertainties and the continued strength in the US dollar saw the Australian dollar fall to below $US0.65.
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