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Sharemarket update April 2019

On the 24th April, the All Ords closed at 6470, which is an 11-year high. You heard right, an ELEVEN YEAR HIGH on the Australian sharemarket! This followed an all-time for the US (based on S&P 500 and the NASDAQ). If you had decided to invest on Xmas eve then your 4 month return would have been a staggering 18.5%. The rise across April has been approximately 2.5%.

In the US, as stated we are back at sitting around all-time highs again (2.5% for the month of April), this time largely off the back of GDP figures coming out for Q1. They have indicated an annual GDP of 3.2%, well above the 2.3% that was expected. As stated in this months article “Overview of the Asset classes”, there are some that believe these may be exaggerated off the back of lower imports and increases in Government spending. It’s possible the response would have been bigger if it hadn’t been for the fact that many now believe the Fed may take this as a cue to increase rates.

In terms of the Aussie $ it fell from around 72c mid month and went just below the 70c mark, but has now stabilised at around 70.5c

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