July 20, 2025
Find out what June’s market movements mean for investors, with insights on inflation, central bank signals, and global growth trends.
Financial markets continued to make a solid recovery through June, with both equity and bond markets higher. Post the decision by the Trump Administration to suspend the imposition of tariffs as the US works with individual countries on trade deals, markets have been able to recalibrate with the US S&P500 Index touching all-time highs despite the lack of firm trade deals alongside ongoing geopolitical risk across the Middle East. However, while June was a strong month for risk assets, providing a strong end to 2q25 performance overall investor caution remains high given the potential for the US Administration to pivot its policy framework, while domestically, the RBA continues to remain on hold win regard to official cash rates.
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