- Economic data released over the past month has continued to paint a relatively good picture of global growth with most of the major economies experiencing accelerating economic growth in the June quarter.
- Geopolitical tensions remained heightened in August and this helped drive down bond yields.
- Political gridlock in the United States increased nervousness about a potential government shutdown.
- Strong earnings reports from companies in the United States and Europe were largely ignored and global equity markets were essentially flat over the month.
- Australian GDP growth rebounded in the June quarter after the weather affected softer March quarter.
- Australia’s earnings reporting season was a touch disappointing with a higher than average number of companies missing earnings projections and many companies lowering their guidance for the year ahead.
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