ECONOMIC REPORT

Please note that any Market/Economic Report published may contain expressed comments and opinions which are of general nature and are deemed to only represent the personal views of the author, and therefore are not intended to be, nor should they be considered by anyone to represent, personal investment advice. You should not act on the basis of any of the contents of these publications. AUGEO strongly recommend that you seek professional financial advice tailored to your personal investment objectives from a qualified source.

DISCLAIMER: To the extent that any of the content above constitutes advice, it is general advice that has been prepared without reference to your objectives, financial situation or needs. Before acting on any advice, you should consider the appropriateness of the advice and we recommend you obtain appropriate financial and investment advice before making any financial investment decision. To the extent permitted by law, AUGEO Pty Ltd, its directors and authorised representatives accept no liability or responsibility to any persons for any loss which may be incurred or suffered as a result of acting on or refraining from acting as a result of anything contained in this publication.


| A superpower torn down the middle cannot return to business as usual. And when the most powerful country is so divided, everybody has a problem - the geopolitical recession can only intensify |
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