KEY THEMES FOR THE QUARTER
- Strong Quarter for Equities, reversing late 2018 decline
- Australia posts best quarter in a decade;
- Developed Markets also up around 11%, Emerging about 9%
- Size premium positive in Developed Markets; Value negative
- Stellar quarter for REITs, rising 13% in Developed Markets
- Global Bonds bolstered by positive Term and Credit premiums
The unpredictable nature of global markets was highlighted by a stunning bounce back in shares around the world in the March quarter, reversing a poor end to 2018. Bonds also rallied strongly as markets revised down expectations for global economic growth and recalibrated their view of the future path of monetary policy.