- Australia’s S&P/ASX 200 Index finished lower over the month masking positive performance from seven out of 11 underlying sectors. Information Technology (-10.4%), Materials (-4.3%) and Consumer Discretionary (-3.2%) were the major laggards.
- Inflation remains a concern in the USA, with the 8.5% annual rate being the highest level since December 1981.
- The Russian war on Ukraine continues to put pressure on energy prices and prompting the IMF to downgrade global annual growth projections to 3.6%.
- Inflation rose to 5.1% in Australia – a 20 year high – leading to calls for the RBA to raise the base rate from 0.1% at its May meeting.
Read the full Market Update prepared by Lonsec here.