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IG Research – The long and the short of it

It’s been a funny old session with a number of markets showing a pick-up in range expansion.Naturally, we have to go to Bitcoin, as this has not only been the poster child of trend and momentum throughout 2017, and so often we see such punchy moves. Of course, liquidity is always at the heart of…

Business investment lifts

Business Investment: the most positive in 12 yearsBusiness InvestmentInvestment rises: New business investment (spending on buildings and equipment) rose by 1.0 per cent in the September quarter after a 1.1 per cent lift in the June quarter.Expected business investment: The fourth estimate of investment in 2017/18 is $108.9 billion and is 1.6 per cent higher…

Bubble or brave new world? Bitcoin breaks $11,000 barrier

Bitcoin surged above $11,000 for the first time on Wednesday as it extends a stratospheric rise that has delighted investors but sparked fears of a bubble.The virtual currency achieved its first landmark of a historic day early in the Asian trading session, breaching $10,000 for the first time, according to Bloomberg News figures. The surged continued…

Euronext acquires Irish stock exchange

Euronext said Wednesday announced it is buying the Irish Stock Exchange in a deal worth 137 million euros ($162 million), adding to an eurozone portfolio that includes the bourses of Paris, Amsterdam, Brussels and Lisbon.The deal comes with Ireland’s exchange out to deepen financial ties with fellow EU exchanges as neighbouring Britain heads for Brexit.It…

Britain ‘very close’ to agreeing Brexit bill

Britain is ‘very close’ to an agreement on its Brexit bill, the EU said Wednesday, but reports that the divorce settlement could be up to 55 billion euros have angered both Brexiteers and europhiles.Brussels said it wanted more progress on the key issues of the Irish border and the rights of European expats in Britain…

US tech shares sell off as bitcoin soars above $11,000

A strong US economic growth report lifted the Dow to a fresh record close Wednesday, even as the tech-rich Nasdaq plunged following a sell-off in high-flying technology shares.Meanwhile, bitcoin hogged the headlines after the virtual currency, which is not traded on world markets, smashed its way to historic peaks, racing past $11,000 a day after…

The lack of inflation is a global issue

The macro stability cocktail is a combination of decent growth, muted inflation and very gradual withdrawal of central bank accommodation.Well the Balinese volcano didn’t blow and neither has volatility in markets. In fact, key market measures of implied volatility continue to plumb new lows. Contributing to this is the synchronised nature of the global growth…

Townhouse approvals at 20-year highs

Townhouse approvals at 20-year highsPrivate sector credit; Building approvals; China manufacturing & servicesLending: Private sector credit (lending) rose by 0.4 per cent in October after a 0.3 per cent rise in September. Annual credit growth fell to 5.3 per cent in October from 5.4 per cent in September.Dwelling approvals: Approvals by local councils to build…

Australia calls banking inquiry to quell public anger

An independent inquiry into the Australian financial services sector was announced Thursday in a bid to quell public anger at the massively profitable banking system after a series of scandals.The country’s ‘big four’ lenders – among the developed world’s most wealthy – have been under scrutiny in recent years amid allegations of dodgy financial advice,…

CommSec Daily Report Thursday

Latest newsAustralian shares are off to a rough start, with the ASX 200 slipping by 0.5 per cent and falling back below 6000pts after closing above the key psychological barrier yesterday. News of a Royal Commission into the financial services industry this morning is pushing the banks down by as much as 2 per cent,…