Highlights:
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Recent economic data continues to show that the major economies are all growing and that global growth is accelerating.
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In Japan, the recent elections returned Prime Minister Shizo Abe’s Liberal Democratic Party with a larger majority allowing a continuation of Abenomics.
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In the US, markets reacted favourably to the details of the Republican tax reforms and news that Jerome Powell will be nominated as the next Federal Reserve Chairman.
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In China the 19th Communist Party Congress elected Xi Jinping for another five years as President and General Secretary paving the way for further reform of the Chinese economy.
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Australian employment continues to grow strongly helped by strong business conditions.
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