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Australian economic view – January 2023
Australian economic analysis and market outlook for January 2023.
Marjorie Soh
2023 Outlook: James Henderson, Portfolio Manager
“Companies with excellent management tend to come through slowdowns stronger – by keeping their costs under control and then reaping the benefits when demand picks up – whilst the weaker players disappear.”
Global Perspectives: It is all falling into place for bonds in 2023
Evidence of a collapse in inflation and impending economic downturn have potentially built conditions for strong returns from bonds.
Global Perspectives: It is all falling into place for bonds in 2023
Evidence of a collapse in inflation and impending economic downturn have potentially built conditions for strong returns from bonds in 2023.
2023 Outlook: David Smith, Portfolio Manager
“While the outlook is uncertain, the Trust is more focused on finding further opportunities in cyclicals where valuations are particularly compelling, remembering that share prices historically trough before economies do.”
2023 Outlook: Neil Hermon, Portfolio Manager
“The UK market looks cheap under almost any measure compared to history and other international markets.”
2023 Outlook: Mike Kerley, Portfolio Manager
“Following the regions underperformance valuations look compelling both compared to its own history and global peers.”
2023 Outlook: Jamie Ross, Portfolio Manager
“Equity markets are inexpensive and, unless we see significant earnings downgrades over the next 12 months, such low equity market valuations are unlikely to be sustainable”