This won’t hurt a bit… – Money Mate
This won’t hurt a bit…
The week as a chart
ASX in 5-week winning streak
The ASX’s good times were fuelled by the rise of iron ore to its highest level since 2013 – jumping from US$145 a tonne to US$156.The jump pushed shares of Fortescue Metals Group to a record all-time high of $22.64 cents on Thursday.The other big winner was Afterpay, which was the biggest winner on the ASX for 2020, recording growth of more than 240% this year.On Friday the buy now, pay later dominator surged 5% following new partnerships signed with Canadian retail powerhouses Clarins and SHEIN.
Two-thirds of bank lending directed to housing
- Loans in the Australian banking system total $AUD2.8 trillion.
- Australian banks lent 67 cents in every dollar for property.
- Business accounts for 59% of lending by foreign banks in Australia.
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