Market Update - October 2014

 

Key Point for October 2014

     

 

  1. The RBA held the overnight cash rate steady at 2.50% for the 14th consecutive month in October.
  2. The 3 Month Bank Bill Swap Rate increased by 0.04% over the month, while the 10 Year Australian Bond Yield decreased by -0.21%.
  3. The Australian Share Market recovered well over the month, with the All Ordinaries Price Index and the S&P/ASX 200 Index increasing by 3.93% and 4.42% respectively.
  4. The Australian Listed Property Sector outperformed the broader equities market, with the ASX 300 Property Index gaining 6.53% for the month.
  5. In global equities markets, the Hang Seng (Hong Kong) Price Index increased by 4.64% to be the strongest performer. US equities also performed well, with the Dow Jones Industrials Index and the S&P 500 Index increasing by 2.04% and 2.32% respectively. The STOXX 50 (EUR) Price Index was the worst performer in October, falling by -1.83%.
  6. Gold and Oil prices tumbled further over the month, decreasing by -3.89% and -11.65% respectively. The overall US$ CRB Spot Commodity Price Index fell by -3.06% in October.
  7. The Australian Dollar recovered in October after a large fall in the previous month. In particular, it appreciated by 0.61% against the US Dollar, 1.41% versus the Euro, 2.30% against the British Pound and 1.35% against the Japanese Yen.
  8. The Australian Trade Weighted Index (TWI) increased by 0.73% in October, indicating an increase in Australia’s international competitiveness.
  9. Corporate debt spreads continued to widen over the month, rising from 87.07 to 94.00, as measured by the iTraxx Australia Index.
  10. US equity market volatility decreased by -2.28% in October, ending the month priced at 14.03%, as measured by the S&P VIX Index.

 

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 Source:       Zenith Investment Partner

 

 

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