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1.Market Observations, 2.share trading, 8.Was Sticky

26 July 2019 (TheAge) – Big banks underline how peculiar this record-breaking market has become

(26 July 2019, The Age, Business, p22, Stephen Bartholomeusz)

Big Movers (Bloomberg, The Age)

Big Movers interactive graph (Bloomberg, The Age)

‘The record levels at which the Australian sharemarket has traded this week only highlights the extent of the continuing disconnect between equity markets and real economies. In the US the market is up about 20 per cent this year despite faltering corporate earnings. The majority of the companies to have reported so far in this quarterly earnings season have downgraded their guidance. At least in the US the economy has been posting quite solid, albeit slowing, growth numbers and unemployment is at record low levels. Here the economy is anaemic and flat-lining despite interest rates being at historic lows and the windfall of a massive surge in iron ore prices thanks to the lost production in Brazil after Vale’s latest tailings dam collapse.’


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