Recent GDP figures showed economic growth contracting in the September quarter as expected given the COVID19 restrictions imposed, however, going forward leading indicators suggest the economy is continuing to bounce back strongly.
Aussie shares outperformed global shares, falling 1.9% in September. Mining underperformance as investors reacted to selloff in iron ore prices. Fixed income returns also poor. The AUD$ fell against major currencies incl US$. Concerns over China amidst the unravelling of Evergrande weighed on AUD$ support.