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Global growth looking healthier - underpinning share markets and a gradual rising trend in bond yields
28/04/2017

Global growth looking healthier - underpinning share markets and a gradual rising trend in bond yields

Shane Oliver, Head of Investment Strategy and Chief Economist.

The attached note looks at the improving global growth outlook.

The key points are as follows:

Global growth is looking healthier as easy monetary policy gets traction, fiscal austerity has come to an end and memories of the GFC fade.

This should underpin profits and share markets but see a resumption of a gradual rising trend in bond yields.

Stronger global growth is positive for Australia and supports the case for the RBA to remain on hold. But with underlying inflationary pressures remaining very low and underemployment very high a rate hike is unlikely until second-half next year.

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