DelphiNews August 2018

I’m pleased to enclose the August edition of DelphiNews.

Market Update

US economic growth shot to an annualised 4.1% in the June quarter but the market is questioning whether this is sustainable.

The impact of US and Chinese tariffs has been noticeable in Asian export growth but US manufacturing activity is yet to be hit hard.

In Australia, the RBA continues to keep rates on hold with tighter credit conditions and lower house prices constraining the household sector.

Japan’s economy likely returned to growth in the June quarter, with wage growth helping to alleviate deflationary pressures.

The UK is heading towards a ‘hard’ Brexit, with the EU rejecting Prime Minister May’s proposed customs plan.

Economic Update

Which key events have been driving markets? Watch this video of Senior Economist Bob Cunneen in discussion with Portfolio Specialist, Sinead Rafferty.

They discuss:

latest market movements across the world, and
concerns over Brexit and the potential implications this may have on markets.

Australia's waiting game on interest rates

Senior Economist Bob Cunneen provides his Chart of the Week below and comments on whether the RBA is likely to raise interest rates over the next year.

Bob notes that Australia’s Reserve Bank of Australia (RBA) celebrated a second birthday for monetary policy this week. Australia’s key cash interest rate has been held steady at 1.5% for the past two years.

Psychology of Money

Money can make us anxious no matter how much we manage to save.

Investors who succeed in building large portfolios and those with much more modest portfolios often share the same worry of whether they are saving enough – despite the difference in their wealth. The article below provides some issues to think about.

Please contact us if you have any questions regarding these articles or to discuss your financial requirements.

Regards

Vince Dore CFP
Director

Vince Dore and Delphi Financial Management Pty. Ltd are Authorised Representatives of GWM Adviser Services Limited ABN 96 002 071 749, trading as Garvan Financial Planning/MLC Financial Planning an Australian Financial Services Licensee, Registered office at 105 –153 Miller St North Sydney NSW 2060 and a member of the National Australia group of companies.

This advice may not be suitable to you because it contains general advice that has not been tailored to your personal circumstances. Please seek personal financial and tax and/or legal advice prior to acting on this information. The material contained in this newsletter is based on information received in good faith from sources within the market, and on our understanding of legislation and Government press releases at the date of publication, which are believed to be reliable and accurate. Opinions constitute our judgement at the time of issue and are subject to change. Neither, the Licensee or any of the National Australia group of companies, nor their employees or directors give any warranty of accuracy, nor accept any responsibility for errors or omissions in this email.

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