Welcome to the May edition of the Market Update.

The recovery in equity and commodity prices continued in April helped by reasonable economic data and commentary from central banks, whilst oil prices continued to move higher, up another 20% in April.

In the United States GDP growth was disappointing for the quarter, whilst GDP was stronger than expected in Europe.

China quarterly growth figures were reasonably solid, whilst in Japan deflation pressures continued with CPI falling 0.1% year-on-year.

At home the RBA cut the cash rate from 2% to 1.75% and Australian business conditions and employment levels remained strong.

If you have any questions regarding this report or would like to discuss your portfolio, please contact me directly.

 

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GWM Adviser Services Limited ABN 96 002 071 749 trading as Garvan Financial Planning, registered office 105 – 153 Miller Street North Sydney NSW 2060, is an Australian Financial Services Licensee and member of the National Australia Bank group of companies.  From time to time Garvan Financial Planning, members of the National Australia Bank group of companies, associated employees or agents may have an interest in or receive pecuniary and non-pecuniary benefits from the financial products and services mentioned herein.