March Monthly Market Update - GPS Wealth
Everything Hinges on Whether Hormuz Re-opens
Events in the Middle East dominated market moves in March and it does not appear that a resolve is in sight as peace talks between the US and Iran in Islamabad broke down at the time of writing.
Major asset classes were weak in March with the Australian share market lower by -7.15% whilst international shares decreased by -2.5%, Emerging market shares ended -9.54% lower and global listed property prices -6.98% lower over the month. Bond markets did not avoid the sell off despite their perceive safe haven status. The Australian bond market decreased by -1.42% and international bonds as represented by the Bloomberg Global Aggregate Index declined -1.85% as investors became more wary about high inflation caused by the oil price and the cost of the US financing the military campaign.
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