With the federal election now behind us and another financial year drawing to a close, it’s the perfect time to reflect on all you’ve achieved over the past 12 months and prepare for a fresh start in the financial year ahead.
During May, while market volatility persisted, markets largely rebounded from April’s losses. However, the legal and economic uncertainty surrounding US tariffs remains a key concern for both global and local markets.
At the end of the month, the S&P/ASX 200 initially reacted positively to news that a US federal judge had blocked the tariffs. However, when an appeals court temporarily reinstated them just hours later, a mini sell-off followed. Despite this, the index surged to a three-month high, though it has yet to return to its February peak.
There was a collective sigh of relief when the Reserve Bank cut interest rates in May by 25 basis points to 3.85%. The RBA’s decision came with a note of caution: while domestic demand appears to be recovering and real household incomes have improved, the outlook remains uncertain due to both local and international developments.
If there’s something affecting your financial situation that you’d like to discuss, please don’t hesitate to reach out to our team.
