23 October 2017

Bassanese Bites: ASX on a tear – Week beginning: 23 October 2017

Another week another Wall Street record. With the North Korean issue again quiet, there were few other negatives to worry markets last week, allowing Wall Street to focus on a (so far) still encouraging earnings reporting season, good economic data, and the tantalising prospect of US tax cuts.

China’s key leadership meeting came and went, with little sign the Party is thinking about loosening its still tight grip on the economy (through debt funded industrial projects) anytime soon. Data on retail sales and industrial production for September were robust, and Q3 GDP rose by 6.8% – in line with expectations and suggesting China’s 2017 growth target of 6.5% will be easily exceeded….

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