With the election out of the way and Labor’s more disruptive reforms defeated, market sentiment has clearly taken a turn for the better. Banks had the best week in over three years, up 8.1% the week following the election. That same week another piece of good news landed for the banks with APRA deciding to lower the 7% home loan serviceability assessment floor clearing the path for an acceleration in credit growth.
This month Morgans take a look at the winners and losers of the surprise Coalition victory, most notably the consumer-facing sectors and the banks. We also explore why we think the economy is likely to receive some assistance from the RBA with rate cuts coming sooner rather than later.
Read more in Morgans monthly Investment Watch Update.
For investment advice call PPT Financial on (03) 5331 3711.
DISCLAIMER: The material and contents provided in this publication are informative in nature only. It is not intended to be advice and you should not act specifically on the basis of this information alone. If expert assistance is required, professional advice should be obtained.