October lives up to its reputation
October lives up to its reputation Financial markets Global sell-off: Sharemarkets across the globe are down 2-3%, responding to a raft of worries Sharemarket movements can impact consumer sentiment and wealth and therefore affect spending. What has happened and what does it mean? • October has a bad reputation with sharemarket investors. There was the…
CommSec Daily Report Wedsday
Latest News The Aussie market is currently having its worst trading session in a fortnight with the ASX 200 easing 32 points or 0.5 per cent to 6716, but off session lows. This follows falls on Wall Street overnight which was weighed by weaker US economic data and news that US Democrats beginning an inquiry…
U.S. To “Drown The World” In Oil
The U.S. could “drown the world in oil” over the next decade, which, according to Global Witness, would “spell disaster” for the world’s attempts to address climate change. The U.S. is set to account for 61 percent of all new oil and gas production over the next decade. A recent report from this organization says…
CommSec Daily Report Thursday
Latest News The Australian sharemarket has been aggressively sold off in early trade on Thursday. At the worst levels of the morning the Index was down 154 points or 2.3 per cent to 6,442. The follows steep falls overnight for US and European stocks in response to escalating concerns around slowing global growth. The Dow…
Former Melbourne financial adviser permanently banned
ASIC has permanently banned former financial advisor Robert Shane Michael of Bentleigh, Victoria, from providing financial services for engaging in misconduct which included dishonestly borrowing money from his clients’ SMSF accounts and using them for his own personal expenditure. From August 2009 to July 2017, Mr Michael was an authorised representative of Marigold Falconer International…
Australia depends less on Chinese trade than some might think
China now buys almost a third of Australia’s exports – about twice the value bought by second-placed Japan, and about nine times fifth-placed United States. It’s a situation that sparks fears of a Chinese economic slowdown, or a backlash if we offend China’s government in some way, such as by criticising its actions in Xinjiang…
APRA Finalises Guidance on Residential Mortgage Lending
The Australian Prudential Regulation Authority (APRA) has announced that it will proceed with proposed changes to its guidance on the serviceability assessments that authorised deposit-taking institutions (ADIs) perform on residential mortgage applications. In a letter to ADIs issued today, APRA confirmed its updated guidance on residential mortgage lending will no longer expect them to assess…
Monetary Intervention Isn’t Quite Going To Plan
As interest rates approach zero in much of the western world, the linear relationship which economists expect from their monetary intervention isn’t quite going to plan. Rather than igniting animal spirits and spurring spending, declining rates are creating insatiable demand and stratospheric prices for safe haven assets whilst doing nothing for the velocity of money…
Investor Signposts 8 July 19: Post-Election Results
CommSec Chief Economist Craig James previews the economic & financial market events scheduled for the week ahead including the NAB business survey, consumer confidence & China inflation. Australia: Post-election results • In the coming week there will be more insights into the post-election economic environment in terms of business conditions and consumer sentiment. • The…
The Case For Small To Mid-Caps
If you research Australia’s largest listed companies, you’ll discover that some of them were much smaller stocks not that long ago. Small or medium companies can be overlooked, given they’re often considered riskier than their large cap peers. Yet historically, investors have been rewarded for additional risk with superior long-term returns. What are small and…
