Services sector activity hits 11-month high

From

Consumer confidence lifts the most in 5 weeks Services sector gauges; Consumer sentiment Services sector: The Australian Industry Group (AiG) Performance of Services Index (PSI) rose from 51.5 points to an 11-month high of 54.2 points in October. But the ‘final’ CBA/Markit Services Purchasing Managers’ Index (PMI) fell from 52.4 points in September to 50.1 points […]

continue reading

State Street’s chart of the week – why now is the time for a trade truce

From

This week Michael Metcalfe, global head of Macro Strategy, asks who is winning the trade war. He comments, “If the sentiment of manufacturers is any guide, the US is losing out more from the escalation of the trade war. US manufacturing sentiment has collapsed in the past nine months, spectacularly so in the last quarter. […]

continue reading

Weakest retail spending in 28 years

From

Retail trade; Weekly petrol prices Job Ads; Inflation gauge Retail trade lifts: Retail trade rose by 0.2 per cent in September after a 0.4 per cent increase in August. Economists had tipped a 0.4 per cent lift in sales. In real (inflation-adjusted) terms, retail trade fell by 0.1 per cent (forecast: +0.3 per cent) in […]

continue reading

Weekly market update – week ending 1 November, 2019

From

Investment markets and key developments over the past week The past week saw US shares push to new record highs helped by good earnings results and Fed easing, but other share markets were soft not helped by mixed news on US/China trade talks and still soft global economic data. Increasing talk that the RBA may […]

continue reading

U.S. Fed thoughts – 31 October, 2019

From

David Lafferty, Chief Market Strategist at Natixis Investment Managers, shares his thoughts on the potential outcome of the October FOMC meeting:  90% chance the Fed will cut “Based on futures pricing, there is a 90% chance the Fed will cut at this week’s FOMC meeting. With a probability that high, the Fed is unlikely to […]

continue reading

Insight Weekly Multi-Asset update – week beginning 28 October, 2019

From

Market and economic review Last week was a positive one for equities, with price reaction to earnings generally positive across the board (see below). In contrast, global government bond yields were relatively quiet. Within FX, emerging market currencies performed well, in particular the Brazilian real which was helped by the passing of new pension reforms. […]

continue reading

Weekly market update – week ending 25 October, 2019

From

Investment markets and key developments over the past week The past week saw major share markets push higher helped by generally good US earnings reports, benign geopolitical news and optimism that global recession will be avoided. US and Eurozone shares rose 1.2%. Japanese shares gained 1.4%, Chinese shares rose 0.7% and Australian shares gained 1.4%. […]

continue reading

CommSec State of the States: October 2019

From

Overall results How are Australia’s states and territories performing? Each quarter CommSec attempts to find out by analysing eight key indicators: economic growth; retail spending; equipment investment; unemployment; construction work done; population growth; housing finance and dwelling commencements. Just as the Reserve Bank uses long-term averages to determine the level of ‘normal’ interest rates; we […]

continue reading

CommSec Research: Strongest growth in Canberra job vacancies in 3 years

From

Skilled job vacancies Skilled job vacancies: In trend terms, the Internet Vacancy Index decreased by 0.7 per cent in September – the 9th successive monthly fall. The index is 7.1 per cent lower than a year ago – the biggest annual decline in 5½ years. But the index is 8.1 per cent above the level […]

continue reading

Federal Budget back in the red

From

Monthly Financial Statements Budget position: Just over a week ago the July and August financial statements were released by the Department of Finance. In this report we look behind the numbers. Deficits return: In the twelve months to August 2019, the Budget deficit stood at $4,826 million (0.2 per cent of GDP). Tax refunds: Over […]

continue reading