Tornado Alley (PROG)

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Year in review 2010/11: Two steps forward… Economic & financial issues

* This report is an updated version of the report issued yesterday and contains available) for the 2010/11 financial year.

* The global economy has proved multi-speed over the past year. Asian economies
European economies have been mixed; while the US economy has lost momentum.

* In Australia, the cash rate rose just once in 2010/11 – the most stable period years.

* Global share markets have risen over the past year but will finish 2010/11 off Overall
the Australian All Ordinaries index lifted by 7.7 per cent in 2010/11 after previous year.

* Last year we noted that “High budget deficits and debt levels in Europe, uncertainty, sustainability of strong growth in China and question marks about the US economic main issues in 2010/11.” It looks to be another year of the same in 2011/12.

.. it's 7 pages, but well worth a peek .. one other bit ..

Global share markets: Asian share markets generally finished near the top of the global leader-board in 2010/11. The strongest share market gains occurred in Argentina (up 54 per cent), followed by Sri Lanka (up 48 per cent) and Russia (up 43 per cent). Indonesia was in 5th spot of 72 countries tracked, with Pakistan 7th, Thailand 8th, Philippines 9th and South Korea 13th.

• The Australian share market under-performed over the past year – in 46th position of 72 countries tracked. The stronger Australian dollar clearly crimped the interest of foreign investors and total returns. Other countries with strong currencies also had under-performing share markets in 2010/11.

• The major share markets of North America and Europe generally out-performed Australia over 2010/11 but Japan under-performed. The US Dow Jones lifted by 27 per cent, the S&P 500 gained 28.1 per cent and the Nasdaq rose by 31.5 per cent. In Europe the UK FTSE grew by 20.9 per cent and the German Dax gained 23.6 per cent.But the Japanese Nikkei rose by just 4.6 per cent over 2010/11.

http://images.comsec.com.au/ipo/UploadedImages/economicreportyearinreview36131b6984ce45f9a67e2c3b07bbd5b1.pdf

Bit more QE and we'll be through it .. HOOPY 2012!