Investment markets and key developments over the past week

The last week was mixed for shares with markets up in the Eurozone (+0.9%), Japan (+0.7%) and China (+2.2%), but US shares falling 1.3% on some earnings disappointments and falls in energy and biotech shares and Australian shares falling 3.9% partly due a capital raising and disappointing earnings update from ANZ weighing on bank shares. Bond yields fell in the US but rose in Europe and Australia and commodity prices remained under pressure as the US dollar rose marginally. Despite this the Australian dollar rose back above US$0.74 as the Reserve Bank of Australia (RBA) dropped its reference to a further depreciation being “likely and necessary”. Read our full weekly market wrap here: (VIEW LINK)