Following a solid run in recent weeks, US equity markets took a breather last night. There was no new economic news and European markets were equally lacklustre.
With equities flat, bonds remained in a very tight range overnight. German 10 year bond yields closed unchanged at 1.96% while US long bonds saw yields edged up 1 basis point to 1.96%. Australian 10 year bond yields now stand at 3.45%.
Comments out of Europe and Japan stirred markets last night. Talk of 'currency wars' has unsettled some players to the point where the G7 appears set to release a paper reiterating their combined belief in market determined exchange rates.
An ECB council member Jens Weidmann expressed his belief that the euro had not become overvalued while Japan's Economy Minister suggested that Japan had further to go in easing monetary policy.
The US dollar gained against yen, moved lower against the euro and was marginally stronger against the AUD overnight.
Oil prices rose for the first time in four days more on currency movements than on news about the global economy or supply issues.
Both copper and gold prices slipped lower pulling the overall commodities index down.
Housing finance fell 1.5% in December, driven by a decline in refinancing and a fall in first home buyer demand (due to changes to first home buyers' grants in NSW and Queensland).
Excluding refinancing, new home loans slipped 0.1% in December, although it was the third consecutive monthly decline in this measure.
Although the weakness in December's housing finance may have been exacerbated by temporary factors, it appears likely the demand for housing finance has tapered off in recent months.
No data released.
No data of note released.
According to the head of the Asian Development Bank, recent actions by the Bank of Japan to ease monetary settings could usher in significant growth for the Japanese economy.
Japan's Economy Minister, Akira Amari has noted that Japan has room to further ease monetary policy.
The Minister appears to be in the running to become the next head of the Bank of Japan.
No data of significance released.
Please read the disclaimer below (to enlarge, press ctrl-+ on modern browsers)
The information contained in this report (the Information) is provided for, and is only to be used by, persons in Australia. The information may not comply with the laws of another jurisdiction. The Information is general in nature and does not take into account the particular investment objectives or financial situation of any potential reader. It does not constitute, and should not be relied on as, financial or investment advice or recommendations (expressed or implied) and is not an invitation to take up securities or other financial products or services. No decision should be made on the basis of the Information without first seeking expert financial advice. For persons with whom St.George has a contract to supply Information, the supply of the Information is made under that contract and St.George's agreed terms of supply apply. St.George does not represent or guarantee that the Information is accurate or free from errors or omissions and St.George disclaims any duty of care in relation to the Information and liability for any reliance on investment decisions made using the Information. The Information is subject to change. Terms, conditions and any fees apply to St. George products and details are available. St.George or its officers, agents or employees (including persons involved in preparation of the Information) may have financial interests in the markets discussed in the Information. St.George owns copyright in the Information unless otherwise indicated. The Information should not be reproduced, distributed, linked or transmitted without the written consent of St.George.
The owner is wanting to move on so is meeting market with this modern refurbished unit. Good buying for the first home buyer, easy walking distance to the city for...
Situated on the banks of Nebo Creek just 10 minutes west of Nebo and under an hour to Mackay is this 50 level usable acres. Comfortable lowset 6 year old home of 4...
Queenslander charm and street appeal and sitting pretty behind a picket fence, this home presents a great starter for the buyer who wants to add their own style...
9,879m2 of beach frontage land under 10 minutes to Sarina & not even 5 minutes to the new boat ramp at Freshwater Point on sealed roads. Level to gently undulating...
Modern home decorated throughout with modern, neutral colours. With 4 built-in bedrooms, master bedroom with ensuite and spacious walk-in robe. Air-conditioned...
- Large family home set on an elevated 758sqm block. Great location only minutes away from Northern Beaches Shopping Centre, schools and the beach. - 5 generous...
Located in the heart of Mount Pleasant is this well presented home which would make an ideal starter for those entering the market or for the investor looking...
Conveniently located in North Mackay is this 3 bedroom brick home situated on a spacious 980m2 allotment. A renovated kitchen is one of the striking features of...
A standout on the street for all the right reasons. Spread stylishly over a single level this home is sure to impress. The fully air-conditioned home opens to an...
Embraced by lush tropical surrounds this massive timeless home offers fantastic space and privacy that the whole family will enjoy. The interiors have different...
Join the Community.
Get your local news, your way.
Update your news preferences and get the latest news delivered to your inbox.