January Market UpdateJanuary 20, 2014
January Market Update
Global economies last month continued to show signs of improvement, with rising employment and overall higher demand seen throughout the major economies.
In the US, the Federal Reserve started its dial down of QE3, with an initial reduction of US$10b, down to US$75b. Janet Yellen, the new Federal Reserve Chairperson elect, was also voted in by Congress.
On the home front, residential property finished 2013 on a strong note, with sales volumes at record levels in Sydney and Melbourne. The Mid Year Economic and Fiscal Outlook was also released last month, and concluded that the budget would remain in deficit throughout the forecast period until 2016/2017.
As markets continue to remain uncertain in the short term, please remember to remain focused on your long-term goals.
If you’d like to discuss anything in this report please contact Donegan’s Wealth Advisers.