Market Update – 30th November 2015

1. The RBA kept the overnight cash rate at 2.00% at both the November and December meetings.
    
2. In fixed income, the 3 Month Bank Bill Swap Rate and the 10 Year Australian Bond Rate rose by 0.25% and 0.34%, respectively, in November.
    
3. Corporate debt spreads, as measured by the iTraxx Australian Index, rose to 124.75 in November from the previous reading of 116.39.
    
4. Australian shares posted negative returns, with the All Ordinaries Index and the S&P/ASX 200 Index declining by -1.33% and -1.39%, respectively.
    
5. Domestic listed property under-performed the broader equity market, decreasing -2.83%, as measured by the ASX 300 Property Index.
    
6. International shares posted mix results among various regions, with the Hong Kong declining -2.84% to be the worst performer and Europe gaining 2.65% to be the best performer.
    
7. Commodity prices declined -2.82% in November, as measured by the US$ CRB Spot Commodity Index. Oil had the worst fall, declining by -13.18% over the month in US dollar terms.
    
8. The Australian Dollar appreciated against most currencies in November. It rose by 1.27% against the US Dollar, 4.99% against the Euro, 3.17% versus the British Pound and 2.44% against the Japanese Yen.
    
9. The Australian Trade Weighted Index (TWI) rose by 2.49% over the month, ending November at 61.80.
    
10. The US VIX Volatility Index rose by 1.06% over the month while the domestic share market volatility fell by -1.88%.

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Source:       Zenith Investment Partner

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