Markets

Bankers have reason to be hopeful as Donald Trump’s new administration takes shape.

Two twin international economic factors, pushing in opposite directions, have sunk the Australian dollar to levels not seen since Paul Keating’s Banana Republic speech in 1986.

Investors might start looking outside of the property market where most of Australia's wealth is held, as returns for another sector outstrip housing.

The ASX200 was down 0.6 per cent at midday, with every sector in the red as traders digested underwhelming domestic retail sales data.

Global stocks declined as elevated US Treasury yields again contributed to a lacklustre close in an otherwise strong year for equities.

The ASX200 was up 0.1 per cent at midday as traders digested Reserve Bank minutes indicating officials remained concerned about inflation.

With debt set to surpass $1 trillion, one thing is certain, Australia’s economic golden age has come to an end.

Foxtel has been sold in a $3.5 billion deal that will bring UK sports entertainment juggernaut DAZN to Australia’s shores — and catapult local codes such as AFL and NRL onto a bigger global stage.

The ASX200 was down 1.1 per cent to a seven-week low at noon, on track for its second-worst weekly performance of the year.

The ASX200 nosedived in early trade on Thursday following a disastrous lead from Wall Street overnight that saw all three major US indexes post their biggest daily decline in months.

JACKSON HEWETT: As Governor Michele Bullock tries to walk the fine line between full employment and inflation, the US Federal Reserve just tipped the balance in the wrong direction.

Angry shareholders have delivered a first strike against ANZ over its bond trading scandal and forced the bank to withdraw a bonus reward for retiring chief executive Shayne Elliott.

Bold action in Beijing is needed to turn things around.

JACKSON HEWETT: The slow, painful drip of Budget downgrades has exposed the long term structural issues that Australia must resolve if the country is to avoid becoming a nation of permanent government debt.

Myer’s independent expert has declared the department store’s $1 billion purchase of Premier Investments’ suite of fashion brands as ‘fair and reasonable’, with shareholders urged to vote in favour of the deal.