Welcome to the new year and our CARE update for the December quarter. Over the December quarter bond, share and property markets continued to endure volatility however prices ended higher over the period. Interestingly, markets are forward looking and are encouraged by signs that inflation has peaked and is starting to abate. Hence, we have seen higher returns as we go to press on early 2023. The unwinding of extremley loose monetary and fiscal policy. The invasion of the Ukraine by Russia which forced energy prices higher, overhanging supply chain issues and inflation all continued to influenced movements across all assets.