Global Market Outlook October 2015 - Fed dawdling rattles markets
The global equity sell-down continued in September as fears over slowing Chinese growth, higher US interest rates, and spillovers to emerging markets weighed on markets. In particular, China’s surprise currency devaluation in late August and the US Federal Reserve’s (Fed’s) decision not to raise interest rates in early September (and its professed fears over the global economy) were key catalysts behind the further dampening in sentiment. The Australian market underperformed US and non-US equity markets last month in both hedged and unhedged terms, while property stocks again outperformed the local market. A weaker $A helped support unhedged returns from US and non-US international equities. For more click the link: (VIEW LINK)
Author, columnist, investment strategist and macro-economist. Previous roles at Federal Treasury, OECD, Macquarie Bank and AFR. I develop economic insights and portfolio construction strategies for BetaShares' retail and adviser clients.