VGB Wealth Matters

Highlights:

• Economic data released over the past month has continued to paint a relatively good picture of global growth with most of the major economies experiencing accelerating economic growth in the June quarter.

• Geopolitical tensions remained heightened in August and this helped drive down bond yields.

• Political gridlock in the United States increased nervousness about a potential government shutdown.

• Strong earnings reports from companies in the United States and Europe were largely ignored and global equity markets were essentially flat over the month.

• Australian GDP growth rebounded in the June quarter after the weather affected softer March quarter.

• Australia’s earnings reporting season was a touch disappointing with a higher than average number of companies missing earnings projections and many companies lowering their guidance for the year ahead.

If you have any questions regarding this report or would like to discuss your portfolio, please contact me directly on 03 9544 8863

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Which key events have been driving markets? Watch this video of NAB Asset Management's Senior Economist Bob Cunneen talking to Head of Investment Communications Jason Hazell to find out.

They discuss:

• insights from the profit season in Australia

• heightened geopolitical risks after North Korea fired a missile across northern Japan, and

• President Trump's bold promises of corporate tax cuts and higher infrastructure spending continuing to be supportive of US shares.

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