Welcome to the March edition of the Market Update.
In February, global equity markets continued to trend higher boosted by optimism about US growth and reasonably good economic and corporate earnings data.
In the United States, the Standard & Poor’s 500 equity index rose 4.0% over the month pushing its 12-month return to 25%.
US business sentiment indicators rose further with small business optimism jumping significantly.
Chinese activity indicators suggest that economic conditions have bounced back and the economy is being supported by robust global demand.
Australia’s December quarter GDP was stronger than expected, rising 1.1% over the quarter reversing the weather-affected 0.5% contraction in the economy in the prior quarter.