Market Wrap - August 2021
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In spite of the generally positive mood investors remained concerned by the
ongoing spread of the Delta variant of Covid-19, and whether it could derail the
recovery in major economies.
It became apparent that lockdowns in large parts of Australia would persist for longer than initially anticipated. As a result, economists downgraded economic growth forecasts and pushed back their expectations of when the Reserve Bank of Australia might start to raise interest rates.
Recently we’ve seen some wild volatility in share markets across the world due to the pandemic and military conflict. We examine what’s going on, the drivers be- hind the price swings and how long they could last. Importantly, we consider what volatility could mean for your retirement savings.
December saw an uptick in Covid infections worldwide. Daily case numbers in the US topped one million for the first time, underlining the ongoing challenge of the pandemic.
