What is happening in Australia today?
- US markets returned on Friday but still ended the week 5.2 percent. However, there was no relief for the ASX, because then China’s Shanghai SE50 crashed 4.6 percent and futures are pointing lower today. The yield spread between Australian and US 10-year bonds will start the week in negative territory, but the dollar found some buyers at a key technical level on Friday night.
- Brexit talks could collapse over Ireland. The Irish question has looked resolved for nearly 20 years, but the matter of the border is threatening to derail the Brexit negotiations entirely. According to Business Insider, a high-ranking member of the Irish government recently told a British MP that “talks could collapse at any moment”.
- Would you be ready for a recession? Think about the people you work with. Have any of them worked through a proper downturn? In Australia, you need to be about 45 to remember one in your career, let alone have managed a business through one. This could cause some trouble in the next downturn, but could even cause problems now, explains Paul Colgan.
- Economists and traders search what went wobbly last week, why, and if it will happen again. This is the reason why data was a big deal in the current week. The first big number will be CPI inflation on Wednesday night, then its jobs and production Thursday before finishing with housing starts Friday. Meanwhile, China is out on holiday for Thursday and Friday. The big release will reportedly happen on Thursday in Australia and people are expected to see more jobs growth in this year.
- Furthermore, one biggest question is if a person earns $1000 an hour. Of course, no one is but this is how one should value their time. In this case, people must learn how to spend wisely.
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