In my Global Market Review for December 2014, I note that the highlight for the month was the stunning collapse in oil prices, which was associated with...

In my Global Market Review for December 2014, I note that the highlight for the month was the stunning collapse in oil prices, which was associated with further weakness in the Australian dollar. On a hedged basis, however, the local equity market produced modest gains in line with the global benchmark, with interest-rate sensitive financials and property sectors outperforming resources. Looking ahead for the year, the fact that central banks remain more fearful of deflation than asset price bubbles should underpin risk markets in 2015. For more information, click on the link: (VIEW LINK)