There’s a risk that next week’s US election is more contestable than we might have considered a week ago.
The RBA is widely expected to ease policy further in November by cutting the cash rate to 0.10%, along with the 3-year yield target (YCC) and the TFF rate.
In a few hours Joe Biden and Donald Trump go head to head in the last election debate.
Australia’s population growth is expected to slow sharply over the next two years, primarily due to net migration given closed international borders.
House prices have held up surprisingly well during the pandemic, with household incomes supported by various measures (JobKeeper, JobSeeker, super withdrawals and interest rate cuts), while repayment deferrals have limited forced sales to date.
The US dollar hit a two and a half year low on Friday, whilst the Chinese Yuan showed big gains.
There’s been a market rebound on the hope that some sort of stimulus deal in the US is still possible before the election.
Equities have been helped by some strong data from the US and continued hope on a stimulus deal.
US and European equities rose sharply, with rising confidence seeing a fall in the US dollar and a rise in the Aussie.
The Federal Budget is on October 6 and today’s Weekly summarises the key budget initiatives that will likely be announced.
In the US Jerome Powell spelt out very clearly in his testimony before Congress that more fiscal stimulus was needed and had been assumed by many board members in their policy predictions.
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