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Market Update October 2019

Market Update October 2019


Welcome to the October edition of the Market Update

Highlights:

Some indicators point to a heightened risk of recession in the US, but for now inflation remains slightly above target and wages are still expected to rise.
 
The global downturn in manufacturing is deepening, although the services sector remains a bright spot, supported by consumer spending.
 
UK prime minister Boris Johnson remains hamstrung by the parliament and will continue negotiating the fraught issue of the Irish backstop.
 
The Chinese economy is feeling the pinch from the trade war as authorities continue to free up liquidity and increase spending on infrastructure to support growth.
 
Given the softness in Australian economic growth and inflation, the RBA is increasingly likely to cut rates a further 25 basis points to 0.50% by early 2020.
 
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