• Equity markets made further positive progress in the final month of FY24, rounding off a favourable year of performance.
• Locally, the S&P/ASX 200 Index added 0.9% over the month, which extended gains to nearly 8% over the year.
• Overseas shares performed better still, adding 1.6% over the month and more than 20% over the year. Despite an anticipated moderation in earnings owing to high interest rates, few companies have seen any deterioration in profitability.
• Bond markets registered positive returns too, again over both the month and the FY24 year. Anticipation that the US Federal Reserve and central banks in other key regions are preparing to lower interest rates pushed government bond yields lower over the month, resulting in positive returns from fixed income.

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