The last month of the financial year was filled with volatility. In particular, developments in Greece and China wreaked havoc across markets and asset classes globally. As events unfolded over the month, risk assets such as equities sold off (more so in Australia than in other developed markets) and bonds rallied (bond yields falling lower). Fear of the negative impact on global growth was also reflected in commodity prices. In the instance of the recent oil price fall, its appears to be also partly driven by supply reasons with a resilient US shale oil market and potential Iran nuclear deal lifting sanctions on them exporting their oil.
