Australia is readying to re-open many parts of the economy, but there is cause to tread warily as a variety of factors will determine how both the domestic and international economies fare in coming years.
The world is already starting to show signs of a retreat in globalisation before the pandemic and the impact of COVID-19 is only going to exacerbate that trend. While physical goods exports continue mostly unaffected, the export of services is being harder hit. The need to keep our borders closed until the virus is under control outside Australia is also adding another layer of complexity. A clear change in risk profiles and savings/investment decisions is also expected based on trends seen following the GFC.
In this webinar, Philip Brown, Senior Fixed Income Strategist, International Banking and Markets at Commonwealth Bank, shared his insights with ASA Members on which parts of the economy are particularly exposed in the coming year and beyond, as well as tried to identify the parts of the economy that will be more resilient.
Key issues explored include:
- Understanding the ‘new normal’. Why not every part of life can, or will, go back to normal
- Exploring challenges likely to emerge in the later stages of re-opening
- What a sustained global economic downturn means for international and local markets, with a particular focus on the construction sector
- Changing the way we operate – from legal and border-related issues to changes in the psychology affecting consumption and investment choices
- Construction sector outlook – CBA’s view on the path ahead
Senior Fixed Income Strategist, International Banking and Markets Commonwealth Bank
Philip’s daily role involves researching the developments in interest rate markets. To do this he analyses global trends in economic and financial markets. He has worked for CBA for more than 10 years, having previously held similar roles at Citigroup and Deutsche Bank. He has also spent time working for the Public Service in Canberra.