Weekly Market Recap
Week in review
- NAB business confidence remained subdued
- Housing finance picked to 4.4% m/m
- RBNZ holds interest rates steady
- Australian labourmarket report
- RBA meeting minutes
- Global purchase managers indices
Thought of the week
Consumer and corporate sentiment remained subdued in January. The reasons are fairly clear given the impact of the bushfires and developments globally. While the survey figures may not have changed much month on month, the fact they remain below long run averages challenges the expectation of a rebound in investment and higher levels of capital expenditure to boost growth later in the year. Furthermore employment intentions were also lower in the January survey, despite the current muted view activity should pick up over the second half of the year in Australia. Stimulus measures to support bushfire relief and a pick up household spending should translate to higher rates of growth and a recovery in corporate confidence.
Consumer sentiment and business confidence
JPMorgan Global Research Enhanced Index Equity Fund
To achieve a long-term return in excess of the benchmark by investing primarily in a portfolio of companies, globally; the risk characteristics of the portfolio of securities held by the Sub-Fund will resemble the risk characteristics of the portfolio of securities held in the benchmark.