The broader Australian sharemarket has made a welcome rebound today (+1.2%) from the recent bloodletting but there are still plenty of hurdles for the Australian corporate sector. If the RBA members read today’s Sydney Morning Herald, then two stories will give them cause for concern; a proposed AUD$ 6.4billion coalmine in Queensland has been stopped by the federal environment minister and Qantas shares have fallen by almost 20% after a dire profit warning.
One other article would seem to be telling a different story, with new car cales +25% in May.