Investor concerns mounted over elevated valuations in US technology stocks, leading to some intra-month volatility. Washington announced preliminary trade deals with Argentina, Ecuador, El Salvador, and Guatemala aimed at lowering U.S. tariffs on selected food and consumer goods. In return, these nations agreed to grant broader access for American agricultural and industrial products in their markets.
The RBA left rates unchanged for the month and fixed interest market participants have unwound their prior expectations for future rate cuts following an uptick in Australian inflation for the year to October (+3.8% from +3.6% in the prior month).
The ASX300 declined (-2.6%) and A-REITs lost (-3.7%). Currency-hedged global shares returned 0.3% while unhedged global shares added 0.2%, with the AUD closing the month little-changed against the USD. Australian bond yields jumped across the curve, resulting in a (-0.9%) decline for the Australian Composite Bond Index.
The RBA left rates unchanged for the month and fixed interest market participants have unwound their prior expectations for future rate cuts following an uptick in Australian inflation for the year to October (+3.8% from +3.6% in the prior month).
The ASX300 declined (-2.6%) and A-REITs lost (-3.7%). Currency-hedged global shares returned 0.3% while unhedged global shares added 0.2%, with the AUD closing the month little-changed against the USD. Australian bond yields jumped across the curve, resulting in a (-0.9%) decline for the Australian Composite Bond Index.
Disclaimer:
The above is intended as general market commentary only and is not intended as, and does not constitute, advice of any kind. No liability is accepted for any action taken based on the above or for any loss suffered as a result of reliance on the same.
