The homes sales data is more important, because if the market continues to slow, that will ultimately take pressure off the U.S. Fed Reserve.
Our assessment remains that Australian shares will continue to outperform mainstream global shares thanks to a combination of higher dividend yields and slightly stronger earnings growth.
Our assessment is that Australian shares will continue to outperform mainstream global shares over the next year, thanks to a combination of higher dividend yields, slightly stronger earnings growth (helped of course by the resources sector) and franking credits.
The Chinese economy continues to motor along at a pretty solid pace. There has been a bit of a rebalancing of the economy over the past few years away from fixed-asset investment toward the consumer.