22 January 2018
Bassanese Bites: Promising Start – Week beginning: 22 January 2018
It’s good to be back, especially as 2018 seems to be off to a very promising start! With global economic data still supportive and prospects for the impending Q4 US earnings reporting season upbeat, stocks have had little reason not to continue their rally in the year so far. After a 19% rally in 2017 (not including dividends), America’s S&P 500 is already up 5.1% for 2018 to date – and is pushing onto new highs. Australia’s S&P/ASX 200 rose 7.0% in 2017 but has peeled back 1% so far this year as the Index fights valiantly to hold the 6,000 level – and remains well shy of its pre-crisis peak of 6,748. Helping equities last year were relatively benign US monetary conditions, despite Fed tightening, as reflected in broadly steady US long-term bond yields and a weaker $US….
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