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Global Markets Review - July 2019

Australian economy, Fixed Income, news, Global economy, Equity
  • The Australian stock market had a strong result in July, outperforming other developed markets.
  • The RBA cut interest rates by 25bps to 1%, as did the US Federal Reserve. The Fed statement suggested there would not be any more cuts unless data deteriorated further - which triggered a 1% sell off.
  • Iron ore strengthened by $4.50 US/t to $121, and Gold rallied to $1,427 on risk aversion.
  • Boris Johnson took 66% of the Conservative Party vote to become Prime Minister of the UK.

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