Chief economist update: Wall Street sneezesBY BENJAMIN ONG | THURSDAY, 27 FEB 2020 11:12AM
"When Wall Street sneezes, the rest of the world catch a cold."Read more: US, Wall Street, China, Dow, Factset, S&P, 18-19 December FOMC, Australia, Beijing, CBOE VIX, Dallas Fed, Hawaii, Kaplan, P/E, Prime Minister Morrison, Richard Clarida, Scott Morrison, Washington
Australia's superannuation sector is fighting a war on three different fronts, as the economic fallout of COVID-19 continues to bite.
Significant hikes in group insurance premiums have been put down to the Protecting Your Super reforms - with members of four superannuation funds facing premium increases of 34%.
APRA has asked superannuation funds to submit their in-house modelling on the magnitude of impact they are expecting from the Federal Government's special allowance for early release from superannuation.
Zenith Investment Partners wants to reverse out of its planned $12 million purchase of Chant West's superannuation business, saying the latter has been materially affected since February, but Chant West is digging its heels in.
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