Economy

Rismark Home Value Index Release   Read more

Today was not a great start to the final quarter of the year and it certainly adds a bit more powder to the theory that last week's rally was really just a short covering rally. Obviously the sell-off in the US was the lead for the Australian market, but it still remains all about Europe and the European sovereign debt issues with across-the-board selling, from commodities stocks to the big banks, a fairly nervous day today to start the quarter.  Read more

The energy sector and the big miners helped the local market higher today, on the back of ongoing rebounds in markets all around the world. Last night the European markets were up between four and five per cent. It does look like policymakers are starting to get it, that they need to be getting some action going.   Read more

The market is still reacting to the eurozone crisis. IMF annual meeting over the actual weekend, and comments by both Timothy Geithner, the US Treasury secretary, that if the eurozone didn't act, there was going to be a cascade of defaults, and Larry Summers, who was Obama's chief financial adviser, comments that this is the gravest he has seen for 20 years.  Read more

One of the more provocative experts on global markets is Dr Marc Faber, a former managing director of Drexel Burnham Lambert, but for two decades now he's been an investment adviser, fund manager and broker dealer, and he's also the editor and publisher of the Gloom, Boom & Doom Report.
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The Italian and more generally European markets moving ahead last night provided a relief us with the retailing sectors helping to lift the local share market today.

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It never ends; debt concerns flared up again as Europe's third biggest economy, Italy, became the latest credit ratings target. Standard & Poor’s downgraded the Mediterranean nation, one notch from AA to A triggering the predictable sell-off on most markets and it was shades of 2008 amid signs of growing mistrust of Europe's banks.
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The local market was hit again by a lack of confidence as hopes of solving the European debt crisis faded. The fear of a Greek default took hold again over the weekend and the there was no escaping it on the local market.   Read more

Today was a bit like groundhog day.

The market opened with a strong start and then about 11 o'clock it all started to turn back down, a bit like yesterday. But also like yesterday, there was a strong correlation between the movements in the Australian share market and the Australian dollar, which finished down about a cent today.   Read more

Local investors were still looking very much offshore, with announcement of French bank downgrade. The reality is investors have been captive to headlines for some months now.   Read more