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On this episode of The nestegg Podcast, host Maja Garaca Djurdjevic and three experts discuss the latest in equities, property investing and super.

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Steve Waters, director of Right Property Group, chats about the subdued April price growth and how prices are predicted to move for the remainder of the year.

RMIT’s senior lecturer of finance, Dr Angel Zhong, talks about the Biden climate summit and impacts on the Australian sharemarket, as well as the possibility of a carbon border tax and what it means.

And lastly, tax and super guru Timothy Munro gives his thoughts on the overhaul of the superannuation performance test and the upcoming budget.

Have a question for our experts? Get in touch at [email protected] and you might get featured on the next episode.

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Cryptos aren’t assets, pose little market risk: S&P

By Lucy Dean

February 20 2018
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Invest

Cryptos aren’t assets, pose little market risk: S&P

By Lucy Dean
February 20 2018

As cryptocurrencies are more like speculative instruments than actual assets, a collapse would have little impact on financial markets, a ratings agency has said.

Cryptos aren’t assets, pose little market risk: S&P

By Lucy Dean

February 20 2018
Share

As cryptocurrencies are more like speculative instruments than actual assets, a collapse would have little impact on financial markets, a ratings agency has said.

S&P Global Ratings said that while cryptocurrencies currently occupy significant space in financial market discussions, the likelihood of a crypto-collapse impacting financial markets is slim.

“We believe that the characteristics of a cryptocurrency, in its current version, make it more like a speculative instrument that, if its market value were to collapse, would not disrupt global financial stability,” S&P said.

However, given that cryptocurrencies are independent from central banks and as such the chances of them entering traditional financial systems, also exposes them to a potential bubble burst.

Financial institutions sector lead at S&P Dr Mohamed Damak said, “For now, a meaningful drop in cryptocurrencies' market value would be just a ripple across the financial services industry, still too small to disturb stability or affect the creditworthiness of banks we rate.”

Retail investors to take the hit

While a collapse would have little ramifications for the wider markets, retail investors would bear the brunt, S&P said, pointing to the fact that rated banks should be protected given limited direct and indirect exposure to the currencies.

However, should cryptocurrencies become an asset class there would be a “more gradual” impact on financial services.

“We believe that the future success of cryptocurrencies will largely depend on the co-ordinated approach of global regulators and policymakers to regulate and enhance market participants' confidence in these instruments," Dr Damak added.

S&P conceded that blockchain technology has positive applications for the financial sector and could have a lasting and significant impact upon how the sector tracks financial transactions.

“The financial market infrastructure segment might also see benefit from cryptocurrencies and blockchain through the launch of new income-generating products, such as futures or exchanges based on cryptocurrencies, or the replacement of current practices by new ones based on blockchain,” S&P said.

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