From Credit Suisse:
Australia now has its fifth Prime Minister in five years. Only Greece has had more leaders since 2010. We believe the risk of economic recession has decreased as a Turnbull-led government should be more willing to embrace counter-cyclical fiscal policy. We also expect an acceleration in the reform agenda. Both fiscal expansion and reform should be positive for Aussie equities. Within the equity market we believe new leadership could be positive for media M&A and retailers. Meanwhile, more fiscal stimulus could weigh on stocks providing a high dividend yield and little else.
More stimulus
