Bassanese Bites: RBA to cut to 0.25% – December 2 2019
Wall Street hit new record highs last week with investors remaining ever hopeful of a trade deal. On that score, the latest titbit of information was China’s pledge to tighten protections for intellectual property. That said, we’re still in a waiting game – with even those itching to take profit likely reluctant to sell until “the deal” is finally announced and signed.
The US economy, meanwhile, hums along – with annualised growth in Q3 GDP revised up a touch to 2.1% (from 1.9%) and durable goods orders surprising on the upside. The latter ads support to the view that the tariff and auto strike related mid-year slowdown in US business investment/manufacturing is starting to stabilise and could well recover as we head into 2020.
