Australia’s three great advantages in this situation are our relatively high official interest, the best ever terms of trade and gross federal government debt of only $195 billion.
Australian stock market
The deeper sleeper issue for QR National
With the closing of the retail offer, the float of QR National is entering its final phase. There remains considerable confusion about how well the attempt to raise between about $3.6 billion and $5 billion in the biggest privatisation since Telstra is tracking.
We’ve passed Wall St, next stop Hang Seng
Australian investors need to stop believing that Wall Street is god of the Australian economy, writes Michael Pascoe. We’ve survived the GFC, even if the US didn’t, and our focus should be on Asia.
US Justice Department slams ASX
Just when ASX has been struggling in running its Australian stock market monopoly efficiently, the US Justice Department has slammed the way it processes trades. Well, by proxy anyway, writes Michael Pascoe.
Centro fails on continuous disclosure
The market clearly believes the Centro management company is stuffed and it will be the lenders owed $18 billion, plus the frozen wholesale co-investors in the shopping centres who will get first crack at Centro’s 124 centres, 67 of which in the US are reportedly already on the market.
The big world of the shrinking greenback
In anybody’s experience, the past three months have been an amazing quarter for the Australian stock market. It started with a record high, plunged 15 per cent and then finished with new records.
