Russell Market Review
Analysis of recent economic events and market movements
Flight to safety continues amid market volatility and worries over global recession
Results from the December quarter were an apt summary of the grim year investors had in 2008.
Over the three month period, at least 19 countries declared recession, leading to unprecedented levels of volatility in equity markets. The Australian share market recorded its fifth consecutive negative quarter.
The declining global growth led to commodities and commodity stocks being sold off heavily, thus having flow-on effect on the Australian dollar, which declined significantly.
Quick Overview
- Easing monetary policy and fiscal stimulus packages
- Australian dollar falls
- Sharp decline in commodities
- Credit spreads reach all-time highs
- Australian shares return another negative quarter
- International shares reflect investor pessimism
- Continued falls in international property
- Australian bonds well supported
- Emerging markets fell
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