The sharemarket rode a wave of Reserve Bank support over the first week of profit reports this earnings season, punctuated by takeover news, forecasts for rising residential property prices, and a slightly softening Australian dollar.
The big banks and businesses leveraged to the economy helped the S&P/ASX 200 rebound 3.5 per cent higher for the week, after a 2.8 per cent decline the week previous, whipsawed by wild trading in US-listed Reddit favourite GameStop.
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Tom Richardson writes and comments on markets including equities, debt, crypto, software, banking, payments, and regulation. He worked in asset management at Bank of New York Mellon and is a member of the CFA Society of the UK as a holder of the Investment Management Certificate. Connect with Tom on Twitter. Email Tom at tom.richardson@afr.com
