How Australian Political Turmoil Is Impacting Markets Down Under
- Aussie dollar plunges Thursday with Turnbull’s future on edge
- Equity market largely resilient; Australia bond yields slip
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Investors, like voters, have seen this all before. Yet another Australian leadership crisis.
That’s meant markets from bonds to stocks have by and large shown resilience ahead of calls Thursday for another vote to choose a successor to Prime Minister Malcolm Turnbull. They figure any replacement to the former Goldman Sachs banker would not cause a substantial shift in policy as the central bank keeps borrowing costs at a record low and companies keep churning out robust profit growth.