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Market Update May 2019

Market Update May 2019


Welcome to the May edition of the Market Update

Highlights:
 
  • The US labour market continues to tighten but the Fed is concerned that a cycle of perpetually low inflation expectations could reduce monetary policy flexibility.
  • Sentiment in Europe continues to deteriorate, with inflation softening in April and the manufacturing sector in contraction.
  • Despite zero growth in the CPI for the March quarter, the RBA opted to hold the cash rate at 1.50%, possibly preferring to remain on the sidelines during the election campaign.
  • The UK has negotiated a Brexit reprieve, moving the deadline back to 31 October, meaning it will participate in European Parliament elections on 23 May
  • China’s March quarter GDP growth exceeded expectations, while investment spending has stabilised after falling through 2018.
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