MARKETS SPECTATOR: The House doesn't always win

Today's house price and sales data are likely to help trigger another rate cut from the Reserve Bank.

Forget earnings, say traders and analysts, the market’s gains are underpinned by a yield differentiation that continues to favour stocks. It is now about 1.2 per cent. But Matt Sherwood at fund managers Perpetual forecasts the yield differentiation may rise to 1.5 per cent if the Reserve Bank cuts the cash rate, currently at 3 per cent.

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