“If at first you don't succeed, find out if the loser gets anything.” - William Lyon Phelps Cartoon of the Week Source: www.heraldsun.com.au Funds Snapshot Movers & Shakers (week ending 10th July): Stocks (ASX 200 ↓0.43%, S&P 500 ↑1.23%, NASDAQ ↑1.74%) Bond Yields (ACGB3Y 4.42%, ↑ 2 bps / ACGB10Y 4.84%, ↑ 4 bps) Bond Curves (A$ 3s10s +42 bps, ↑2 bps) Credit Spreads (Major Bank 5Y Senior +63 bps, ↓1 bps / Tier 2 +124 bps, ↔)) Oil (Brent US$76.01/bbl, ↑5.39%) Gold (US$4,119/oz, ↓1.36%)...

Last week produced a set of Australian data releases that, taken together, present a genuinely mixed picture of the domestic economy. The most significant surprise was May's trade balance swinging to a deficit of $3.0bn — against a survey expectation of a $2.2bn surplus — driven by a 6.9% fall in exports and a 2.6% rise in imports.

Sticky inflation and resilient economic growth kept markets volatile as investors reassessed interest rate expectations. Read the latest outlook on equities, bonds and the RBA.