Investors set for a nervous week ahead of central bank decisions
Investors are likely to stay cautious and markets volatile ahead of crucial meetings from the US and Japanese central banks later this week.
Patrick Commins writes on Markets specialising in Equity Markets, Currencies, Debt Markets. Based in our Sydney newsroom, Patrick is Markets deputy editor and has over six years experience as a journalist.
Investors are likely to stay cautious and markets volatile ahead of crucial meetings from the US and Japanese central banks later this week.
The BoJ meeting on Wednesday even promises to eclipse the usually pre-eminent market event: a US rates decision early Thursday morning.
The local sharemarket posted its first gain in five sessions, but investors warn markets are likely to remain volatile.
There may be more pain to come, but rather than indiscriminately selling now, investors would be best served digesting the lessons of a sharp reversal in bond yields and what that might mean for their portfolios.
Australian shareholders will enjoy a $24 billion dividend bonanza over the coming months, as a record nine in 10 of top ASX-listed companies reward their investors with a payment.
Shares ease and the Aussie dollar firms as RBA holds rates held steady.
Investor fears of an imminent US rate rise and falling commodity prices triggered a hefty selloff that saw the ASX end the week in the red.
Were investors to more accurately price risks, global equity markets would fall by as much as 20 per cent, UBS says.
Not even a bumper result by Harvey Norman could cheer investors, as the ASX ended the month and earnings season in the red.
You need to go back to 1948 and Harry S. to find a presidential race where the lead changed later than this, says bond fund Pimco's head of policy.
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