Bassanese Bites: Back from the brink – Week beginning: 14 May 2018

Helped by continued strength in resource stocks, which is despite weak iron-ore prices, the S&P ASX 200’s V-shaped recovery also continued last week. Key data was mixed, with a strong rebound in the NAB Index of business conditions yet weak retail spending and signs of gathering weakness in home loan demand and further softness in Sydney property prices.  The Federal Budget was overall fairly neutral for markets, with proposed tax cuts not big enough to promise much of near-term boost to consumer spending.

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