In the October 2020 edition of the Market Update:
- The upcoming US presidential election is contributing to market volatility and raising fears of a disputed election result, which could lead to market instability.
- Attention shifted in September from monetary policy to fiscal policy as markets looked for signs that fiscal spending will continue to prop up economies around the world.
- The Australian federal budget delivered in October was heavily focused on supporting employment and incomes, producing a $214 billion deficit for 2020-21.
- Fears of a new wave of infections have gripped Europe, with France’s daily cases reaching an all-time high of nearly 19,000 in early October.
- China has been successful in containing the COVID-19 virus and is hoping for a consumer-led recovery to take hold as restrictions ease.