Outlook for Investment Markets
It has been another good month for equities, globally and domestically, as investors have become more confident about the prospects for the world economy and less concerned about Eurozone debt crises. Conversely, ‘safe haven’ assets like government bonds and gold have sold off. At home, local equities also gained, as the economy is clearly picking up some momentum. Absent any more Cyprus-style shocks, this pattern should continue into coming months, although more focus will come to bear on the valuation of growth assets, which have arguably moved to the expensive side.
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