Business
Is the recovery already priced into shares? – The Australian Financial Review
After steep gains, investors are asking if the market has already priced in a return to normal and, if so, should they err on the side of caution?
A lot of that stimulus has already been spent, which was the whole idea, but much of it has been saved, with Australias household savings ratio hitting 19.8 per cent in the June quarter, almost eight times higher than a year ago and only 0.5 per cent below its peak of the past 60 years. Thats a serious amount of spending power.
And spending is exactly what it looks like Australian consumers are doing after confidence levels jumped to 10-year highs. Commonwealth Bank credit card data showed spending…
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