In this episode of the Daily Financial Services News Wrap, Paige Estritori covers a range of topics including overseas market dynamics and domestic financial regulations. As anticipation builds for the Jackson Hole Economic Policy Symposium, Australia's dollar faces pressure due to increased market risks. The symposium's insights are expected to influence future economic trends. Trends in gold and mining metals stocks are unfavorable, while emergent market junk bonds display unexpected durability, leading experts to recommend defensive hedging strategies. On the domestic front, ASIC exposes continuing malpractices in direct life insurance sales, leading to potential investigations and regulatory pressures. Finally, the proposed superannuation tax 'Division 296' targeting super balances above $3 million continues to generate debate, with over 61% of the financial advising community predicting it will impact their clients. Join us at Financial Services Online for more insights into finance, insurance, superannuation, and money management.
