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Paul Taylor, portfolio manager of the Fidelity Australian Equities Fund, says compared to record-low official Australian interest rates of 0.75 per cent – with at least one additional cut forecast in 2020 –and the returns available for cash, a fully franked ASX dividend yield of 4 per cent makes equities "a hard asset class to ignore.""I believe the Australian equity market not only remains good absolute value but great relative value," he says.
IFM Investors' chief economist Alex Joiner is hoping the federal government will come riding to the rescue with additional fiscal stimulus. Australia’s housing correction has turned out to be mild. While prices in Sydney and Melbourne dropped as much as 10 per cent in 2019, they have quickly snapped back, he says.
Any recovery in housing is important for the outlook for consumer spending, as there tends to be a strong wealth effect from residential property to consumer demand, Mr Jenneke says.
The market is up because 2019 has seen one of the biggest years of central bank balance sheet expansion and monetary easing. There is no bull market without their intervention. It’s been one big stock market bail out. Fundamentals are irrelevant and ‘experts’ know sweet fk all.
Tanksville is coming 2020
Dude- 2019 was only so good because the market tanked in Nov/Dec 2018.