Weekly Market Recap
What’s the worst that could happen?
Week in review
- Australian unemployment rate falls to 6.8%
- U.S. retail sales declines 1.1% m/m
- Eurozone PMI composite rises to 49.8
- Australian retail sales
- Australia private sector credit
- U.S. durable goods orders
Thought of the week
Markets may not be priced for perfection but they are certainly banking on the good news being delivered. Heading into year end, the question is always, what could go wrong? The smooth distribution of vaccines across the globe is at the top of the list. There are still several distribution hurdles to overcome and there are also issues around allergic reactions and the broad acceptance by the public of the vaccines. Politics will also remain a feature as we watch for speedbumps in the U.S. and the outcome of the Georgia senate race which will decide the final composition of the U.S. senate and may impact the future of fiscal policy. After many years, and countless headlines, Brexit’s time has finally come. It will make a splash but the ripples for most investors outside of the UK will be small. Finally, there is COVID. Case numbers are still growing in Europe and the U.S. and outbreaks are appearing elsewhere. Another wave could dent economic and market confidence. Any of these events could see another spike in market volatility.
Equity volatility never returned to pre-COVID levels
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.