The Australian sharemarket closed higher on Tuesday,buoyed by the mining heavyweights,after Wall Street reached its highest level in more than three months overnight.
The latest US inflation data was greeted euphorically by financial markets,which saw it as a signal that the US central bank’s work is done with rate hikes.
The Australian sharemarket remained in positive territory on Wednesday despite weaker-than-expected Chinese data weighing on commodity price overnight.
The Australian sharemarket closed out a strong session on Thursday,after the US Federal Reserve’s decision to keep interest rates steady in the world’s largest economy calmed investor nerves.
The US Treasury’s debt issuance plan eased investors’ fears of a looming deluge of long-term government debt that had triggered a bond market rout.
It is almost a certainty that central banks will again be forced to slash rates and revert to funny money,creating another bond bubble. This looks like the perfect entry point.
The Australian sharemarket has tracked US gains overnight as investors await the outcome of the Federal Reserve’s monetary policy meeting this week.
The Australian sharemarket clawed back some of Monday’s losses after Wall Street advanced overnight ahead of a week of key economic data.
The Australian sharemarket dropped after a weak lead from Wall Street and speculation the Reserve Bank could raise rates to a 12-year-high on Melbourne Cup Day.
HSBC chief Noel Quinn says countries risk being “hit hard” after allowing borrowing to balloon in the wake of the financial crisis and the pandemic.
The Australian sharemarket reversed its earlier gains on Wednesday as the latest inflation data kept the door open to another Reserve Bank interest rate rise.