Morning Report Monday 8 December 2014
The Murray Inquiry is delivered at interestingly difficult times
Joe Hockey delivered David Murray’s Financial System Inquiry on Sunday, just when things are looking bleak for both the government and our economy. Last week, the indicator of our economies growth, GDP numbers, came in at only 0.3% under half of expectation. Australians' confidence is clearly on the decline as people run out of patience with both the economy and the share market; this is illustrated at a glance by the numbers below:
• Retail investors are maintaining relatively high cash allocations as the ASX200 is down 0.3% for the year, but the Dow is up 8.3% at all-time highs, and in the background the buoyant property market sees auction clearances fall to an 18 month low last weekend.
Show more...
