Bonds/Interest Rates

Assuming the Greek correction is now over, where does that leave valuations for Australian banks?

Greece has approved its austerity package in principle on a night full of positive news. Dow up 72.

Wall Street posted another strong rally ahead of tonight’s Greek vote and some surprising data at home. Dow up 145.

A deal offered by French banks on Greek debt helped ease fears and turn Wall Street around last night. Dow up 108.

BIS Shrapnel’s latest analysis on the Australian residential property market suggests there should be moderate price growth through 2013, with the best performances in the Perth, Brisbane and Sydney markets.

PFP Wealth Management’s Tim Price suggests excess debt and dealing with this problem will have painful implications for the global economy.

Market analysts at FXCM suggest a perfect storm is forming for the US dollar and risk given the pending expiry of QE2 and a deepening of the Greek sovereign debt crisis.

Wrap of events affecting the market on Friday night and the weekend and a preview of the week ahead.

Chinese and European PMIs, US data, strategic oil reserve release, and then a new Greek austerity plan. From 234 points down, the Dow closed down only 59.

A survey of fund mangers by Russell Investments has shown a more uncertain outlook, with defensive assets currently favoured over growth assets.