Are we seeing the early days of a bubble in the making in the housing sector as investors, especially self-managed super funds, continue to pile in?

A quieter week ahead for some, but for Australia, the usual monthly test of the most recent jobs data and China’s latest economic data.

Good news from the Chinese trade figures for November with not only a solid rise in imports, a huge trade surplus and jump in exports, but a new record for iron ore imports.

Gold and oil went differing ways last week, while wheat prices slumped to a near three month low in something of a surprise. Copper though, rose.

Blame Qantas, fears about US tapering, nervy investors, over anxious hedge funds – anything – but the $20 billion plus sell-off in the local market yesterday was a worry.

Economic growth in the third quarter wasn’t quite as solid as I thought it would be after the run of encouraging data in the past week, and the 0.6% quarter on quarter rise and 2.3% rise in the year to September continues the meandering sub trend performance of the past year.

Has the economy turned upwards after spending most of the past year meandering along at below trend, meaning interest rate cuts are at an end?

Yes, the Reserve Bank kept rates on hold, and yes, it’s not certain about the strength of the economy and yes it’s sitting on the sidelines and watching the impact of a series of rate cuts on the domestic economy, which is sort of good news.

There was nothing from the flow of data here or offshore yesterday and last night to force a change of heart from the Reserve Bank’s last board meeting of 2013 which will leave the cash rate steady on 2.5%.

November ended up a curious month for markets – some rose, some eased, some went sideways – and one or two bombed – led by gold.

A big, big week for economies here and around the world, as well as for investors large and small. In fact it’s one of the biggest weeks of the year for the amount of information and number of key decisions to be made.

The world’s most exclusive club – countries with AAA credit ratings, of which Australia is a member – just got smaller with the news that the Netherlands has had its top notch standing cut by Standard & Poor’s.

Yesterday’s investment figures from the Australian Bureau of Statistics tells us that the mining services sector is facing further grief, on top of what they have experienced so far in the past year.