THE DISTILLERY: ASX applause

Jotters hail ASX Ltd's decision to trade in government bonds, with one saying it will balance Australia's overemphasis on less stable equities.

It was years in the making, but yesterday's announcement that the Australian Securities Exchange will begin trading Commonwealth government bonds later this month has the unanimous support of Australia's commentariat. In a rare display of solidarity, scribes have thrown up their hands and declared: it's about time.

Tony Boyd, The Australian Financial Review's Chanticleer columnist, says the decision could help temper Australia's risky obsession with equities. Those planning for retirement should rejoice.

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