Global markets were generally lower overnight with Wall Street reversing gains as investors turned their attention to fiscal policy, with tax writers from the House of Representatives expected to hammer out their plan this week.
Closer to home, the Reserve Bank of Australia once again decided to keep interest rates on hold at 1.5% and the lack of signals that it will raise rates at any time in the near future is an example of how central bank liquidity is driving markets. We continue to expect the RBA to remain on hold in the near term.
Yesterday also saw the ASX 200 market index move above the 6000 level for the first time in almost a decade, as the Aussie market plays catch up with other major global markets. Investors are enjoying buoyancy in markets as a result of the most benign global growth environment since the global financ...
Stock Markets, Simplified.