A lot of activity this week but in the end we only went sideways.
Interest rates are expected to stay on hold. The main reason would be weak business confidence among small-to-medium sized firms.
The Sensis Business Index fell 17 points in the June quarter to the lowest level in more than 5 years. The report paints a picture of weak confidence levels across both current and future perceptions.
Market pricing has interest rates remaining at a record low of 2.5%.
What is positive is that the market is starting to look stable around it current trading levels.
We continue to expect to see weakness in retail sales and downgrades for the retail sectors profits. This is great news as it presents good long-term value buying opportunities.
The ASX 200 index opened the year at 4802 and closed at 5395 putting on 593 points or 12.3% for the year.
Again another stellar year, showing that the share market is still the best place for returns and growth.
Companies are still paying high yields and more opportunities are presenting themselves.
We also saw a pickup in initial public offerings that has all the hallmarks of a market that has recovered from the GFC.