Investors are giving up on the developed world’s most enduring economic growth story. Australia hasn’t recorded two straight quarters of economic contraction since the first half of 1991, meaning it’s just a month away from overtaking the Dutch record and posting 28 years of continuous expansion. With home prices sinking, households swimming in record debt and the escalating U.S.-China trade war eroding confidence, bond and foreign exchange traders are betting that streak is now in jeopardy. The Reserve Bank of Australia’s cash rate last stood this far below the Federal Reserve funds rate i...
Why the World’s Most Enduring Growth Story Is Starting to Wobble - Bloomberg
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