• Global equity markets correct in December – although Australia was a strong performer
  • Oil prices continue to weaken
  • China stock market volatility, and weaker economic data, creates deflationary fears
  • US economic data continues to point to an improved recovery.
  • US Federal Reserve commenced the process of normalisation of interest rates in December.
  • Eurozone economic activity continues to improve
  • Australian non-mining economic sector continues to recover

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