Market and economic update | August 2020

Market and economic update | August 2020

In recent weeks, we've seen the US sharemarket hit new records highs. On the surface, this is quite staggering given the recency of the COVID-19 market crash, the current status of the US economy, and the highly unstable political environment. In the past week, the US Federal Reserve made a historic announcement that will likely help support markets in the foreseeable future.

Back home, the ongoing lockdown in Victoria is slowing the economic recovery and creating some drag for our sharemarket, which is trading 14% lower than it's pre-COVID-19 highs, but still 38% up since the recent low point on March 23.

Verse Financial Advisers Corey Wastle and Ashley Bishop have joined forces from their home offices to provide some insight into these developments. In this video, they cover the questions of:

1. What do new record highs on the US sharemarket mean for investors?
2. What does the guidance from the US Federal Reserve mean for investors?
3. What's happening on the Australian sharemarket and what effect is the Victorian lockdown having?

If you feel like you'd like to talk with your Verse Adviser about the current market and any potential impact on your personal strategy, feel free to get in touch and we'll make time to chat.

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