- The impact of the Covid‐19 pandemic on the global economy has been profound, especially in emerging, low-income
economies with limited health care capacity.
- Trade tensions between the US and China added to market volatility, while the outcome of the November
US presidential election remains uncertain.
- A port explosion in Beirut killed at least 135 people and severe flooding in southern China added to the country’s woes, displacing millions from their homes.
- The Reserve Bank of Australia (RBA) kept rates on hold at 0.25% at its August meeting and indicated it will
resume purchases of 3‐year government bonds.
- Harsher restrictions in Victoria following a spike in Covid‐19 cases could cost the Australian economy $9
billion, according to the federal government.
Read the full Market Update prepared by Lonsec here.