Highlights:

• Equity and commodity markets continued to recover off their mid-February lows helped by reasonable economic data, supportive central banks and improved sentiment:
• Oil prices continued to move higher, up another 13% in March
• China economic data was, on balance, a little better
• US economic data continued to improve
• The European Central Bank surprised investors with the size of the additional stimulus measures that it announced in early March to try to combat disinflation
• Australian business conditions outside the mining sector continue to improve
• RBA retains cash rate at 2.0%

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