Weekly Market Recap
Week in review
- Australian consumer inflation expectation decreased to 3.4%
- Australian unemployment rate decreased to 6.6%
- U.S. Markit manufacturing PMI increased to 59.1
- Australia CPI q/q
- U.S. Fed funds rate
- U.S. GDP
Thought of the week
The world has seen good progress on the vaccine front. Governments are implementing strategies to vaccinate the most vulnerable first, such as the elderly and those on the front lines, which should reduce mortality from the virus, ease the burden on medical workers and make governments more comfortable with relaxing restrictions. As developed markets have faced higher infection numbers, they must focus on vaccinating quickly for their economies to return to normality. Newly elected President Biden has promised 100 million doses of the vaccine to Americans in his first 100 days in office. North Asia, however, has been able to keep infection numbers lower through effective testing, contact tracing and strict border controls, and therefore can afford to be more cautious in its vaccine rollout. For investors, a rebound in developed market activity should support equities, particularly the 2020 laggards.
Daily Vaccine doses
7-day moving average, per 1000 people
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.