Daily FNArena News - Australia

Local retailers beware. We’re all about to start buying cheaper goods from on-line sites because our currency is overvalued, according to CommSec. Or is it?

Two month’s after surprising the market with weak earnings guidance, Macquarie Group has been forced to make a second, substantial, downgrade.

The Australian economy has never had it so good, finds NAB, as long as you’re nowhere near the south-east corner.

Some observations from your editor, plus the latest updates by market strategists at leading stockbrokerages.

The post-GFC bad debt pressure may be easing, but UBS notes CBA’s loan book quality is deteriorating.

Leucadia holds 8% of Fortescue and has opposed moves by the company to issue additional debt to raise funds, which brokers suggest has potential funding implications for the iron ore play.

Leading US funds manager BlackRock foresees authorities being forced to inflate the US out of debt and out of an increasingly likely dip back into recession.

This week’s GDP data suggest the Oz consumer is back on a spending spree, but Westpac economists believe there will be no return to boom times from the past.

Nufarm has advised the market debt levels will be higher than previously expected but brokers have taken the news in stride and upgraded the stock on valuation grounds.

A snapshot of economist responses to today’s second quarter GDP result.