Investment markets in the early months of 2018 suffered several fits of volatility but managed to shake it off and rallied in May and June.   Consequently, Australian share indices ended June at close to their financial year-high points, whilst long-term interest rates, which had crept up towards 3%, retracted to about 2.6% by financial year end.

Last quarter I wrote about unusually low investment market volatility in 2017, and the likelihood that 2018 would not pass so calmly. On cue, a wave of volatility hit at the beginning of February, caused by a tantrum in the US bond market, and has continued since. Clearly, this year will be defined by more frequent ups and downs, so investors should remain wary.

Barry Schebella, who has been with Joseph Palmer & Sons since 1994, is retiring.  Barry has worked tirelessly for more than two decades in his capacity of General Manager, and will be surely missed by staff and clients.  We wish Barry a very relaxing and long retirement in Adelaide...