Hello – but probably not if you already have a lot of money tied up in Australian stocks.
THE ASX futures point to further loss in the region of 1%The backup falls above 1% on Thursday and Friday last week.
It’s after the US key S&The P 500 index lost another 1.3% Friday, with Nasdaq falls further.
Both of these indexes fell every day last week.
The immediate root cause is geopolitical instability resulting from Israel-Gaza War and uncertainty about the extent of the escalation of the situation in the region.
The prospect of another energy price shock that would keep inflation high for longer has pushed interest rates lower. 10-year US Treasuries peak at 4.99% Friday, before falling back very slightly.
THE VIX Volatility Index is at its highest level since April, according to NAB’s markets team, which is a pretty good indication that the markets’ woes are far from over.
THE Ian Verrender, ABC business editor I wrote a good article on this last week.