David Bassanese
Betashares Chief Economist David is responsible for developing economic insights and portfolio construction strategies for adviser and retail clients. He was previously an economic columnist for The Australian Financial Review and spent several years as a senior economist and interest rate strategist at Bankers Trust and Macquarie Bank. David also held roles at the Commonwealth Treasury and Organisation for Economic Co-operation and Development (OECD) in Paris, France.
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“Horror day on global markets”, “Markets plunge as recession fears rise”, “ASX set for more pain as Wall Street records worst day since 2022”.
These headlines greeted investors as they awoke this morning. The S&P/ASX 200 was down 3.7% yesterday following significant falls late last week, with more than $130 billion lost in the last two trading days.
Downturns like we are currently witnessing occur periodically in sharemarkets. But in Australia and the US at least, markets (though not necessarily individual shares) have always recovered – even if it has taken some time.
Markets don’t go up in a straight line – S&P/ASX 200 Total Return Index
Source: Morningstar Direct, Betashares. Returns from 02/04/2001 to 06/08/2024 . Past performance is not indicative of future performance.
While it’s hard not to react emotionally when your portfolio is on a rollercoaster ride, it’s during periods of market volatility that it’s more important than ever for the head to be in control of the emotions.
Special update: How to navigate today’s market volatility
I discusses reasons behind recent market volatility, and what it means for investors from this point on.
Plus, my views on the link between movements in sharemarkets and current expectations around interest rate movements, and my take on the likelihood of major economies sliding into recession.
Join the webinar this Friday
Join me, Betashares Chief Economist David Bassanese, for a special webinar this Friday to help investors steer a course through market turbulence. The session will cover:
- Factors behind recent share market volatility – will they persist?
- How at risk is the US economy to recession?
- The local inflation outlook and implications for RBA policy
Webinar
Market Update: Volatility, interest rates and investor outlook
Friday, 9th August 2024
11.00AM – 12.00PM AEST
David is responsible for developing economic insights and portfolio construction strategies for adviser and retail clients. He was previously an economic columnist for The Australian Financial Review and spent several years as a senior economist and interest rate strategist at Bankers Trust and Macquarie Bank. David also held roles at the Commonwealth Treasury and Organisation for Economic Co-operation and Development (OECD) in Paris, France.
Read more from David.