Sell-side hoses FIRE sector

The sell-side appear to have woken in fright today. Following yesterday’s raft of downgrades to banks, it’s the remainder of the FIRE sector that’s copping it today:

CSR cut to Sell vs. Hold — Bell Potter

CSR cut to Sell vs. Neutral — Citi

REA Group cut to Sell vs. Neutral — UBS

REA Group cut to Neutral vs. Outperform — Credit Suisse

REA Group cut to Neutral vs. Outperform — Macquarie

JB Hi-Fi cut to Sell vs. Neutral – Citi

Banks, dwelling construction, real estate prices and retail all on the nose.

Just as households are supposed to carry growth forward, according to the RBA and Treasury.

Good luck.

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.