Market Update – August 2020

This month:

  • 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.

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