Written on the 18 February 2011 by GWM Adviser Services
Dear Valued Client
We are pleased to enclose the February edition of Market Update for 2011.
This month’s newsletter has all the usual key information to keep you up to date and informed about everything that’s been happening in the local and global economies and equity markets here and around the world.
Despite political issues in North Africa and most notably Egypt, overall, it has been a relatively good start to the year.
Concerns over Europe have eased somewhat; helped by a number of successful bond issues by governments in Spain, Portugal and Italy, and Germany’s economy which is exceeding expectations.
In the US, the Fed has kept rates low as expected, however positive signs like an increase in household spending is an indication of improving sentiment.
In Australia, markets have had a soft start to 2011 with the impact of the Queensland floods, and the dollar remains around parity with the USD.
While it’s been a reasonably good start to the year, as a long-term investor, it’s important to keep in mind that we can probably expect to see more volatility as global markets work towards a sustained recovery.
If you’d like to discuss anything in this report please feel welcome to call us on 1800 967 548.
Any advice in this communication has been prepared without taking account of your objectives, financial situation or needs. Because of this you should, before acting on any advice, consider whether it is appropriate to your objectives, financial situation and needs. GWM Adviser Services Limited ABN 96 002 071 749 trading as Garvan Financial Planning, registered office 105 - 153 Miller Street North Sydney NSW 2060, is an Australian Financial Services Licensee and member of the National Australia Bank group of companies. From time to time Garvan Financial Planning, members of the National Australia Bank group of companies, associated employees or agents may have an interest in or receive pecuniary and non pecuniary benefits from the financial products and services mentioned herein.