Consumer stocks in general will be very interesting today with traders positioning ahead of tonight's Australian budget
Pepperstone
Consumer stocks in general will be very interesting today with traders positioning ahead of tonight's Australian budget. A number of the measures have been pre-leaked, but we could still easily get some surprises. Expectations are that the underlying budget deficit for 2014/15 should be for a deficit of around $26 billion, which would be $8 billion lower than the original estimates from the governments Mid-Year review of $33.9 billion. Ultimately fiscal policy should be tightened by around 0.25% of GDP, which when combined with other measures should lead to total fiscal drag of 0.50%. It seems logical that this budget will be fairly austere in a bid to front load the fiscal tightening, in a bid to put the Abbott government in a tidy position to ease policy through targeted tax cuts as we head into the 2016 elections.
Highly accomplished financial markets professional, with experience at a number of top-tier global institutions on both the buy and sell-side. A natural communicator with a strong ability to analyse macro-economic trends, capital flows and market...
Expertise
Highly accomplished financial markets professional, with experience at a number of top-tier global institutions on both the buy and sell-side. A natural communicator with a strong ability to analyse macro-economic trends, capital flows and market...