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Weekly Economic Perspectives: Dismal Private Spending A Drag On Australian Q2 GDP

Last Week's Highlights

  • The Economy
    The US unemployment rate drops. Another positive jobs report in Canada. UK housing activity rebounds. Eurozone service activity moderates, but less than initially reported. Japan’s unemployment rate edged up marginally. The RBA extends its Term Funding Facility.
  • The Market
    After massive gains, this week brought broad and deep declines in equities. Bond yield narrow only modestly and are steady in the US. The dollar rebounds a little. Oil plunges and gold retreats.