7. Market Update – February 2015
A snapshot of the key points for February 2015
- The RBA cut the overnight cash rate to 2.25% during the February board meeting.
- Fixed income securities fell over the month, with the 3 Month Bank Bill Swap Rate declining by -0.14%.
- 10 Year Australian Bond yields finished the month at 2.50%, representing a 0.07% increase for February.
- Australian Shares reported strong returns over the month, with the All Ordinaries Index and the S&P/ASX 200 Index increasing by 6.25% and 6.09% respectively.
- Australian Listed Properties performed well in absolute terms, adding 2.88% in February, however underperformed the broader equity market in relative terms.
- Global equities also posted solid returns over the month, with Japan increasing 7.69% to be the strongest performing region. The Hang Seng Index underperformed, yet still added 1.29%.
- Gold prices in US$ fell back to the negative territory in February, decreasing by -4.45%.
- Oil prices recovered slightly over the month, with the Texas Crude Oil US$ Index increasing by 3.15%. The overall US$ CRB Spot Commodity Price Index fell by -0.36% in February.
- The Australian Dollar increased slightly over the month. In particular, it rose by 0.14% against the USD, 1.18% versus the EUR and 1.09% against the JPY. The Australian Dollar recorded a -2.23% decline over the GBP, indicating an appreciation of the British Pound.
- The Australian Trade Weighted Index (TWI) rose by 0.31% in February, consistent with the moderate increase in exchange rate.
- US equity market volatility, as measured by the VIX Index, fell by -7.63% for the month, ending February priced at 13.34.
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Source: Zenith Investment Partner
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