China - China has set its economic growth target for the year at 7.5%, as it looks to continue its efforts to stabilise the economy. The country also set its inflation goal at 3.5%, aimed at keeping prices in check. After years of impressive growth rates, China has seen its rate of expansion slide after a slowdown domestically and in key markets. In 2013, the country grew at a pace of 7.7%, about the same as in 2012.

U.S. - Fourth quarter United States GDP growth has been revised down to an annualised 2%. Most of the drop was due to lower than estimated durables consumption, especially cars, fewer exports and lesser inventories. Durables consumption grew 2.5% in the final quarter, rather than the forecast 5.9%.
Meanwhile, business investment was revised much higher. It increased 7.3% over the quarter; the first estimate put it at just 3.8%. That offset an even larger fall in residential investment which plummeted 8.7% as existing house sales dropped off. Reductions in QE is set to continue.

Asia - Singapore is poised to surpass Tokyo as the Asian city with the most ultra-high-net-worth individuals within a decade, as its stature as a financial centre increases with the region’s growth. Singapore will have 4,878 people with $30mn or more in assets excluding their principal residence by 2023, a 55 percent gain from last year, and trailing only London globally, according to a report from Knight Frank LLP yesterday. The number of these millionaires in Tokyo will climb 8% to 3,818, ranking the city fourth worldwide after New York.
The region has been dominated by political events but despite the protests in Thailand the market there has performed very well in the past month. Other Asian economies have performed very satisfactorily.

Bonds - I am still concerned with the prospect of higher interest rates and will make the necessary adjustments when required. However, this sector is still positive and remains a hold.

Comment
I am confident that the portfolio I have selected will perform to expectation in the coming months. The axis of China and the US are still the dominant influences in the global markets. Both are adjusting to a new set of circumstances and managing their economies well in the post global recession era.