The Reserve Bank board meets today and is not expected to cut interest rates, despite claims by some commentators that the economy is approaching "stall speed" to quote a commentary yesterday by brokers Goldman Sachs JBWere.
Melbourne based ports and rail owner, Asciano, was a star performer in the market last week with an unexplained 71 cent rise to close at $4.15 last Friday, and yesterday we got the reason why.
Lend Lease shares fell sharply yesterday as it joined the downgrade club's upper echelons.
Australia's second largest listed investment company is Adelaide-based Argo Investments remains well cashed up and alert to any value that might emerge from the current market instability.
The credit crunch is a year old this week and with central banks in Australia, the US, UK and Europe meeting, there's no sign of any relief on financial groups in those and other countries.
What's worse: the state of the US banking industry, car industry or jobs market?
Don't expect any help from the building industry in halting the slide in economic activity in the domestic economy for the next year.
