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Domestic woes to weigh on stocks in FY18
The 2016/17 financial year has very much been a tale of two halves, global market strategist at JP Morgan Asset Management says.
Myriam Robin is a markets reporter based in the Financial Review's Melbourne newsroom.
The 2016/17 financial year has very much been a tale of two halves, global market strategist at JP Morgan Asset Management says.
For decades, investors have flocked to US treasuries as the global safe, virtual risk-free asset class. But some bond managers are reconsidering that thesis.
The ASX shook off early wobbles to push higher on Wednesday, led by strong gains in the miners.
Gains in the sharemarket's two largest sectors sparked a rebound but not enough to push the ASX into the black.
On a day relatively lacking in big-ticket corporate or economic news, investors were free to concentrate on a Fairfax investigation into retirement village operator Aveo.
The rapid 250 basis point rise in domestic interest rates that would leave Australian households facing a mammoth debt servicing burden is unlikely to occur, economists said.
The BIS has warned that Australian households are among the most vulnerable to a sharp rise in global interest rates.
A new round of selling in the big four banks after the SA government unveiled its own bank levy kept the market suppressed on Friday.
With Australian companies more expensive than regional peers, it makes less sense for global investors to sink money into the ASX.
A global sell-off of Australian assets exacerbated the biggest single-day fall in shares since Trump's election.
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