Aug 12, 2016 | Investment Advice

International News (Issue 412) – 12 August 2016

Given the heavy focus on Australian corporate reporting above, I will be speedy with the remarks on international markets this week.

Chinese foreign exchange reserves were stable last month, which is encouraging in the sense that capital flight risk has diminished.

Interestingly as concerned as I still remain on the Chinese economy and its stock of bad debt, I will note that the mood out of China this week was modestly constructive with remarks that Chinese banking sector non-performing loans were stable this half for the first time in 3 years.

Secondly, construction equipment players are also remarking that conditions for heavy equipment have also improved after three or four years of massive inventory destocking.

In the US, the main economic event was the US employment figure from last Friday which was excellent and again pointed to full-employment in the US and an economy doing a lot better than most analysts give it credit.

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