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1.Market Observations, 8.Was Sticky

23 Sept 2019 (AFR) – Economy needs fiscal stimulus not more debt, warns Morgan Stanley

(23 September 2019, AFR, p6, Duncan Hughes, Reporter)

Change in household debt v disposable income (Morgan Stanley, AFR)

Change in household debt v disposable income (Morgan Stanley, AFR)

‘Residential property is in a trough and dragging along market bottom rather than set for a rebound that will reinvigorate the economy, according to analysis by global investment bank Morgan Stanley. Sustained economic recovery will be generated by fiscal expansion driving employment and salary growth, rather than releveraging when household debt remains at record highs after two years of house price falls, the bank warns.’

Read more at AFR.com (might need AFR login access, or try: AFR.com/trial)

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