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Signs of global growth picking up

Equity markets around the world have been subdued the past few weeks with the exception of Australia, which was sold off partly due to the closure of stockbroker BBY.

The recent uplift in consumer confidence in Australia, brought about by the Federal Budget, wasn’t enough to stem the drop in equities. Besides, we believe the reaction from consumers is temporary and we don’t expect households to be flocking to the shops – as they already have.

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