Investment Matters

The markets

Concerns about the banks' bad debt provisions (more on this below) dragged the Australian market down on Tuesday.  This was offset by an increase yesterday, driven by increases from the miners, and probably some short covering (and maybe some end of quarter positioning).  As we write, the market is down 1.4% today - led by the banks, but also down more broadly (with key US employment data and Chinese manufacturing data due out over the next day).  This resulted in the Australian market finishing down 1.4% for the week. 

In the US, Federal Reserve chair Janet Yellen indicated a cautious approach to interest rate increases.  This was viewed positively by the market, which was up 1.2% for the week.

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