Mercer actuary David Knox says the data used to determine the old age dependency ratio is “totally out of date” and overstates the severity of the problem.
From their inception, SMSFs have always attracted more than their fair share of criticism. Now it’s an ageing membership that’s being used to restrict their numbers.
Inside Investor Morning Report – April 20th
After finishing up 1.9% for the week, taking the recovery to 20% off the market bottom in March, the S&P/ASX 200 (ASX: XJO) looks to open strongly again today.
US markets make it positive CY20
US markets rallied strongly to finish the week with the tech-focused NASDAQ now in positive territory for the year. The key driver has been an apparent slowing of COVID-19 infection rates across the US and Europe. Investors seem to believe the one-off recessions are already priced in and that business, as usual, maybe closer than we think.
Companies reporting
Friday saw a diverse range of companies reporting, both in the US and Australia.
Amid the most market carnage since the Great Depression, Amazon.com Inc (NASDAQ: AMZN) hit all-time highs as those stuck at home relied upon its home delivery and diverse range of products. It’s now a $1.2 trillion company and its likely this period has shown many people how much easier shopping online may actually be.
Chinese GDP falling
Chinese GDP collapsed in the third quarter, falling -6.8%, with the majority of the massive economy on hold for as long as two months. This is the sharpest fall since 1992 and was driven by an incredible 19% drop in retail sales.
The slowdown hasn’t seemed to hamper demand for iron ore, with Rio Tinto reporting a 5% increase in exports. Closer to home, CHEP pallet distributor Brambles Limited (ASX: BXB) reported revenue in line with expectations, noting the spike in grocery volumes as the shutdowns began.
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