US Treasury (UST) yields rose in the first half of the month buoyed by hawkish comments from the Federal Reserve (Fed), a solid US jobs report and possible scale back of quantitative easing (QE) by the European Central Bank (ECB).
As commodity prices have risen, the Australian economy is set to benefit from these continuing gains.
The Trump reflation trade may have lost some of its shine during the quarter, but any disappointment was more than overshadowed by strong global data as exports and production continued to gather pace.
Is Volatility too low and what re-pricing could mean for various asset markets
The Global Investment Committee remains optimistic about global economy and equity markets despite their recent strong equity rallies and increased political risks.