- The RBA kept the overnight cash rate at 2.00% at both the October and November meetings.
- In fixed income, the 3 Month Bank Bill Swap Rate and the 10 Year Australian Bond Rate fell by -0.04% and -0.02%, respectively, in October.
- Corporate debt spreads, as measured by the iTraxx Australian Index, fell to 116.39 in October from the previous reading of 136.11.
- Australian shares posted positive returns, with the All Ordinaries Index and the S&P/ASX 200 Index increasing by 4.55% and 4.34%, respectively.
- AREITs followed the broader equity market, rising 4.87%, as measured by the ASX 300 Property Index.
- International shares rose across the board, with the TOPIX Japan Index the best performer, gaining 10.42% over the month.
- Gold and Oil prices recovered over the month, increasing by 2.40% and 3.33%, respectively. However, the Iron Ore price declined by -10.81%. Overall, commodity prices declined by -2.04%, as measured by the US$ CRB Spot Commodity Index.
- The Australian Dollar appreciated against most currencies in October. It rose by 1.27% against the US Dollar, 3.70% against the Euro, 0.30% versus the British Pound and 2.46% against the Japanese Yen.
- The Australian Trade Weighted Index (TWI) rose by 0.67% over the month, ending October at 60.30.
- Share market volatility fell over the month, with the US VIX Volatility Index and the S&P/ASX 200 Volatility Index declining by -9.43% and -7.12%, respectively.
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Source: Zenith Investment Partner
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