This month’s Market Watch key points include:
Global stocks rose for a third consecutive month in March after central banks indicated they are willing to accommodate economic growth, the EU agreed to postpone the date of the UK’s departure, and China promised to stimulate its economy. Gains were checked as doubts rose over the global economy. A dip in the Australian dollar boosted returns for those who have unhedged investments in global equities. During the month, nine of the 11 sectors rose in US-dollar terms. Real estate (+4.7%) rose most as bond yields fell on the gloomy global outlook, while financials (-2.3%) fell the most as lower interest rates reduce margins. The Morgan Stanley Capital International (MSCI) World Index added 1.3% in US dollars and 1.5% in Australian currency.