Changing demographics, macroeconomic dynamics and capital market realities are reorienting the world for investors.
1. ‘World Population Ageing 2015: Highlights’, ESA, UN. 2. Facebook and Worldometers.info. 3. ‘Go on guess: The global rate-cut tally since 2008’, Financial Times. Note: As at 25 March 2016. The total covers central banks in developed economies, Eastern Europe, the Middle East, Latin America, South Africa and Asia. Some smaller economies may not be captured. 4. ‘Transforming World Atlas, 2015’, Bank of America Merrill Lynch. 5. ‘Negative-yield debt breaks $10 trillion level for first time’, Financial Times, https://next.ft.com/content/37eb6964-2908-11e6-8ba3-cdd781d02d89, as at 4 July 2016. 6. FactSet and Bank of America Merrill Lynch. 7. ‘China GDP growth slips to 6.7% as stimulus eases down’, Financial Times, https://next.ft.com/content/faa4576c-0203-11e6-9cc4-27926f2b110c, as at 4 July 2016. 8. ‘Private equity 2016 forecast and deskbook’, Probitas Partners. 9. Crude oil prices: West Texas Intermediate (WTI) – Cushing Oklahoma, Economic Research, Federal Reserve Bank of St. Louis. 10. Quarterly Perspectives Australia 2Q 2016, JP Morgan Asset Management. 11. ‘HM Treasury analysis: the immediate economic impact of leaving the EU’, HM Government, May 2016, www.gov.uk/government/uploads/system/uploads/attachment_data/file/524967/hm_treasury_analysis_the_immediate_economic_impact_of_leaving_the_eu_web.pdf, as at 12 July 2016. 12. OECD calculations. http://www.oecd.org/economy/the-economic-consequences-of-brexit-a-taxing-decision.htm 13. www.smh.com.au/business/the-economy/negotiating-the-economic-cross-currents-20160311-gngezp.html, as at 5 July 2016. 14. Statement by Glenn Stevens, Governor: Monetary Policy Decision, 3 May 2016, RBA. 15. Catalogue number 6401.0 – Consumer Price Index, Australia, March 2016, Australian Bureau of Statistics and RBA. 16. ‘F4 - Retail deposit and investment rates’, June 2016, RBA. 17. 2016 Long-term investing report’, Russell Investments and ASX, May 2016.
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