Bonds/Interest Rates

Wall Street pushed further ahead last night on some more positive economic data in a vacuum of news from Europe. Dow up 83. (Locked for subscribers until 10:00 AEDST)

Following reports from CBA, Bendigo and Westpac, Australia’s banking sector looks in sound health. But do brokers see near term value at these levels?

The National Australia Bank Quarterly Business Survey showed gains in both business conditions and confidence levels in Q4 last year.

The euro turned tail and ran away again last night but more positive US data prevented a stock market reversal. Dow up 40.

Leading indicators by Westpac-MI suggest the Australian economy will soon be back in booming conditions a la 2007.

The NAB Monthly Business Survey and Economic Outlook showed Australian business confidence rose in January but business conditions weakened.

We’ve seen the peak in AUD strength and in USD weakness, suggests CommBank while NAB highlights a very “dangerous” IMF report on inflation.

A second increase to Chinese bank reserve requirements in a month is seen as aggressive by economists, with interest rate hikes next.

A brief look at important company events and economic data releases next week.

The EU solution for Greece did not convince Wall Street. Jobs numbers were needed to spark short-covering. Dow up 105.
(Locked for subscribers until 10:00 AEDST)