Where is this so-called Santa Rally?
Well, here we are, the end of another year!
Many of us will be looking forward to seeing the back of 2022, a year in which the cost of living skyrocketed, taking the cost of housing with it. This put pressure on household budgets, particularly for those in retirement, or with high levels of debt.
And while we turn to the new year full of hope and optimism that it’ll be better than the last, there’s certainly room for trepidation that things could well get worse before they get better.
Unfortunately, that’s not a very cheery note to end the year on.
Equally dreary is the colour of global share markets throughout the year, which has consistently been red. 2022 is likely to be the worst for the S&P500 since 2008, though at the time of writing the Australian share market is up just under 100 points.
However, there is still some hope of a so-called Santa Rally in share markets, which typically take an upward tick as the year comes to a close. Usually we see the S&P500 rising in the last five trading days of the year and the first two trading days of the new year.
This year there is extra reason why a Santa Rally might happen, however fears of a potential recession could also get in the way and prevent it happening at all.
Attention AMP Summit/NORTH clients. They have now done an internal rollover on your account to the cheaper MyNorth Super product. Please note your account number will have changed, so please forward the recent letter to your employer. If you have forgotten your user ID or password, or you’re not set up for North Online, visit northonline.com.au, or you can call the North Service Centre on 1800 667 841, or email [email protected].
In other news, we know this time of year can be challenging for relationships. If you or someone you know is going through the stress of separation or divorce over the holiday season, the Divorce Planning team is available to help. Call for a free 15-minute consultation on 1300-1234-36
And finally, thanks for your loyalty and support across all areas of our business this year. We hope you enjoy the festive season and have a prosperous New Year. See you in 2023!