The Australian economy is strong enough to withstand a US slowdown, while further Fed action should limit the extent of any slowdown according to CommBank.
The Dow recovered from a 128 point fall to close almost unchanged. No, this is not yesterday’s report.
Economists at ANZ have broken the mould and increased their interest rate expectations from one more likely hike to three more hikes. Consider the November one as a given.
The Reserve Bank of New Zealand has kept official interest rates unchanged but retains its hawkish view given speculation of a fiscal boost from lower tax rates next year.
The Dow pulled back from a 200 point fall to be “unch” after ridiculous rumours of an “emergency” rate cut circulated Wall Street.
The long awaited CPI release for the September quarter is out. And the RBA preferred measure suggests a rate hike should follow soon.
The odds seems in favour of a stronger than expected CPI figure for the September quarter later this week after a stronger than expected PPI release today.
BCA Research suggests assets managed by sovereign wealth funds will grow from US$3 trillion to US$13 trillion in a decade.
The RBA will meet on Cup day to decide upon what many feel will be a rate rise. The clincher will be the CPI data released on Wednesday this week.
On the 20th anniversary of the crash of 1987, the Dow celebrated with a 367 point fall.