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Quarterly Wrap Up – March 2021
27 April 2021
Written by George Lin/Senior Investment Manager CFS

We’re starting to see the light at the end of the tunnel, writes Senior Investment Manager George Lin, but there’s a fascinating tug of war between markets and central banks on interest rates.

Over the three months to 31 March, markets had a lot to focus on – from Capitol riots and geopolitical challenges to vaccine setbacks, a social media buying frenzy, and an increase in global bond yields. During this time, we also saw a dramatic fall in the number of new Coronavirus cases in a number of countries where vaccination programs were successfully rolled out. Further, positive sentiment surrounding strong economic data, the passage of a large fiscal relief bill in the US, as well as optimism over the pandemic had a downside – shifting markets’ focus from reflation to inflation, and pushing bond yields higher. Still, most growth assets remained resilient to rising bond yields. And by quarter’s end, Australian shares were up 4.2%, while the Australian Dollar (AUD) traded at about 76 US cents.

To read the full article from George Lin, click on this link

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