August 2019 - Bongiorno Financial Update

What's in this issue?

• Where the US economy goes is critical to the outlook for shares, including for the Australian share market.

• While the yield curve is flashing warning signs and issues around trade and Iran could cause short-term volatility, the excesses that normally precede US recessions – a spending boom, surging private debt and/or rising inflation/tight monetary policy – are absent.

• This along with the combination of easing monetary conditions globally, is likely to see growth continue suggesting that US - and hence global and Australian - shares are likely to be higher in 6-12 months’ time.

Kind regards,

ANTOINETTE BONGIORNO 
LL.B. B.Com. CFP DipFP A.S.A. Cert IV. FMB.

Level 2 
431 St Kilda Road 
Melbourne VIC 3004 
ph) 03 9863 3316 
fax) 03 9820 2518

Australian Financial Services Licence No 238977