Australian investors haven’t traditionally paid a whole lot of attention to federal election results, but there’s one big reason they’ll be keeping an eye on Saturday night’s result. As Morgan Stanley’s Australian equity strategist Chris Nicol notes, government spending contributed to the entirety of economic growth last year, “so the trajectory of fiscal policy is clearly consequential to the outlook” for the local market. Regardless of whether Anthony Albanese or Peter Dutton claim victory, Nicol expects strong government spending to continue, at least in the near term. Both campaigns, he says, have been relatively stimulatory. Loading...