Last night’s announcement by Standard & Poors that an end to subprime write-downs is in sight means little in the wider scope of the credit crunch.
Speculators have been driving oil prices and this makes a correction likely short-term but a tight market means prices will remain above US$100 per barrel in 2009 says Westpac.
Surveys of attendees at Barclays Capital’s fourth annual Commodity Investors Conference last week offer some insight into how professional investors are approaching commodity markets.
Australia’s unemployment rate has fallen to its lowest level since 1974 and this puts added pressure on the RBA as it tries to bring inflation under control.
Has the latest Fed move solved anything?
While interest rate differentials have supported Aussie dollar gains against the greenback, CIBC notes cuts are starting to be priced in and this suggests downside risk for the currency.
Weekly musings from your editor. Instead of being blinded by the comfort of market consensus, investors are often better off by focusing on the standout individual.
A non-binding proposed offer has been made for Challenger Infrastructure but with the deal pitched below net asset value brokers don’t give it much chance of succeeding.
The market is not surprised Incitec Pivot has made a full bid for Dyno Nobel and with the deal expected to be earnings and value accretive most brokers are in favour of the move.
Consumer Sentiment is faltering, and fast, in Australia according to a monthly gauge by Westpac and the Melbourne Institute.
