In the May 2020 edition of the Market Update:
- Shutdowns, isolation, and social distancing measures have had a profound impact on consumer-facing sectors and have resulted in large spikes in unemployment.
- Central banks around the world have embarked on unprecedented emergency lending and bond buying programs to combat the economic effects of the coronavirus.
- The Bank of England forecasts UK GDP to contract by 14% in 2020, driven by a 25% decline in the June quarter, to be followed by a rapid recovery.
- The Reserve Bank of Australia kept rates on hold at 0.25% at its May meeting and continued targeting the 3-year government bond yield at the same rate.
- Growth in new coronavirus cases in Australia slowed significantly in April, although a second wave of infections could eventuate if restrictions are eased too quickly.
There’s more commentary, plus our usual tables with all the key market data on Shares, Interest Rates and Property in the linked document below.