Markets yawn at the G20 plans for faster growth: Financial markets are digesting the news from the G20 meeting, the centerpiece being the pledge to grow the global economy by 2.1 per cent more over the next 5 years. Now everyone knows that financial markets give the best and most telling instant assessment of events - be they the horrors of September 11, a shock data release, a policy change, a geopolitical development or some other news that is likely to change the course of economic events and with that, financial market prices. The initial reaction to the G20 meeting is, well, underwhelming. Market think, quite frankly, that the G20 pledge for faster growth is not worth the paper it's written on, that it is lame, contains nothing new and who needs the G20 to tell governments that stronger growth is good, especially in the context of the hangover from the Great Recession. See full article here: (VIEW LINK)
Perhaps some economic benefit for the local Brisbane economy that will be reflected in later data releases? Images of Koalas beamed back to the US encouraging Americans to travel on the renewed strength in their dollar?