Reflecting on the past year, Australia's financial landscape showed resilience amidst fluctuating global tides. Fortunately, inflation appears to have settled in many advanced economies and continues to move towards target ranges as set by many Central Banks. In-turn the US Federal Reserve now expects rates to begin falling from 2024 which has ignited equity and bond markets. More specifically, since the recent low experienced in October, we’ve witnessed the Australian share market advance by almost 10%!
While considerable geopolitical risk remains, the global economy is on an upward path, and is expected to grow by 3.2% in 2024. Australia’s advantage in global resources places it well ahead of other developed economies in supporting activity and avoiding a recession.
Separately, with many experiencing significant cost of living pressures over the past 12-18 months, we have been working on initiatives which may assist – especially around the cost of private health. To help, we've recently established a relationship with an award-winning provider who offer a comprehensive review as part of their process. Should this be of interest, please let us know.
In addition, we would like to officially welcome Sewwandi Perera who brings a wealth of experience and insight around navigating volatile investment markets. Before moving to Australia, Sewwandi worked as an investment analyst - with a keen eye towards researching US equities. Please join us in welcoming Sewwandi to the team.
Lastly, as the curtain closes on 2023, our office will be looking to close so we can spend precious time with family. Our last day in the office will be the 21st of December and we plan to re-open on the 8th of January.
From the team at Synergy Private Wealth, we wish you a safe and enjoyable Christmas and a prosperous New Year.