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Capital Economics with the note:
The RBA’s latest Financial Stability Review painted a rosy picture of financial stability risks. Household debt as a share of disposable income remained at a four-year low in Q4 despite the fall in incomes as stimulus was withdrawn. (See Chart 1.)
And the high rate of saving over the last year means that households’ financial buffers in the form of cash and deposits have risen to an all-time high. Coupled with the reduction in interest rates, the average household is now in a stronger financial position and has more ability to service its debt in the event of an emergency. Meanwhile, housing loan deferrals have fallen by 95% from their peak in June last year and now account for just 0.7% of the total stock of loans.
ECB Annual Report 2020
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Government pleased with robust housing market
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Markets Week Ahead: Dow Jones, S&P 500, Bonds, Gold, NZD, RBNZ, Bank Earnings 2021-04-12 14:00:00 Daniel Dubrovsky, Strategist
The first full trading week of April saw market sentiment extend what has been the dominant exuberance since last year’s Covid-induced low in financial markets. On Wall Street, the Dow Jones and S&P 500 added onto gains, pushing deeper into record highs. This time around however tech stocks outperformed their value-oriented counterparts as the Nasdaq Composite soared.
European equities were also in the spotlight, particularly as the UK’s FTSE 100 outperformed most of its regional, North American and Asia-Pacific counterparts. Stock investors found some relief in falling longer-term Treasury yields, both in the United States and externally. Still-dovish commentary from the Federal Reserve cooled 2022 rate hike bets.