ANALYSIS: ASX soars to fresh highs as the economy remains rooted in mediocrity, what gives?
and the potential resumption of a trade war hardly makes the miners a risk-free investment, but what the heck, buy some shares.
Last week, the ASX200 pushed above the previous high, hit at the end of July, which in turn beat the previous record high set back before the financial crisis hit back in late 2007. "Valuations are okay — particularly against low bond yields, global growth indicators are expected to improve through next year and monetary and fiscal policy are becoming more supportive, all of which should support decent gains for share markets on a 6-to-12 month horizon," Dr Oliver said.The ASX was not alone in scaling a new pinnacle, but like the key US indices, it took a breather on Friday.
Commodities: Brent oil -4.0pc at $US62.43/barrel; Gold +0.6pc at $US1,466/ounce; Iron ore $US89.00/tonneThird-quarter GDP is traditionally a furiously busy week data-wise as the ABS hands out a mass of numbers to fill the spreadsheets economists have hanging from their mantlepiecesPutting aside the various GDP partials coming up, CoreLogic's house price index is likely to show that the rebound that's been going on since June is accelerating.
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