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Our day of reckoning

Feb 06, 2018 (The Australian - ABIX via COMTEX) --

Futures pricing suggests that global sharemarkets will continue to fall on 7 February, after bearish sentiment slashed the Australian bourse's capitalisation by $A84bn in just two trading sessions. David Cassidy of UBS argues that Wall Street's recent rally means a correction was overdue, while Federal Treasurer Scott Morrison notes that the US market is much more overvalued than the Australian market. Morrison and Reserve Bank governor Philip Lowe both stress that the outlook for the Australian economy is positive..

Publication Date: 7 February 2018

STANDARD AND POOR'S ASX 200 INDEX
UBS HOLDINGS PTY LTD
AUSTRALIA.  DEPT OF THE TREASURY
RESERVE BANK OF AUSTRALIA
NATIONAL AUSTRALIA BANK LIMITED - ASX NAB
AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED - ASX ANZ
AUSTRALIAN BUREAU OF STATISTICS
UNITED STATES.  FEDERAL RESERVE BOARD
DOW JONES INDUSTRIAL AVERAGE INDEX
NIKKEI 225 INDEX

By David Uren

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