International rating agency, Moody’s, have reaffirmed Australia’s top level AAA credit rating.

Treasurer and acting Prime Minister Wayne Swan said this was yet another resounding endorsement of Australia’s sturdy public finances and strong economic fundamentals.

“At a time when other developed economies have had their ratings cut, or put on review for potential downgrade, Australia stands tall in the world with its gold-plated AAA status safe and secure,” he said in a statement.

The US Federal Reserve said consumer spending rose slightly last month and the economy maintained its expansion, even as companies reported more doubt about the strength of the recovery.

“Overall economic activity continued to expand in September, although many districts described the pace of growth as ‘modest’ or ‘slight,’” the Fed said in its Beige Book survey released today in Washington. “Contacts generally noted weaker or less certain outlooks for business conditions.”

The Financial Planning Association of Australia (FPA) are embarking on a campaign to increase consumer awareness of the importance of seeking the right financial advice.

You will soon see the TV advertising campaign on local TV stations aimed at raising the standing of the Financial Planning profession.

In these interesting times of volatile investment markets it is becoming more and more important to get the right financial advice from a trusted professional. The FPA campaign aims to encourage consumers to be mindful of a financial planners qualifications (or lack of) when seeking advice.

The Victorian State Budget 2011-12 implements several initiatives to support first home buyers, pensioners and concession cardholders.

What does this mean for you as a first home buyer?

1. Land transfer (stamp duty) cuts for first home buyers from 1 July 2011. This provides a 20% reduction to the applicable stamp duty for first home buyers.

2. Extending the First Home Bonus for newly constructed homes until 30 June 2012.

3. Broadening the pensioner and concession cardholder land transfer duty concession.

hings change and keep changing – in finance as well as in life.

In the last few years Australia has done very well to steer a steady path through the financial issues rocking the economies of most of the rest of the developed world, and that world itself is changing.

Take a look at the graphs below which compare the composition of world stock markets in 1999 and 2009, showing the growing importance of Asia (ex-Japan) over this period.

The middle class of Asia is emerging and at full strength will be almost half the world’s population. An opportunity on our doorstep!