We start with the fiercely contested US election, in which vote counting is currently underway, and tipped to not be fully decided for some time, due to record numbers of early votes cast, both in person and by mail, due to the coronavirus pandemic.
On Tuesday, we had the Reserve Bank of Australia announce a key interest rate cut to an unprecedented 0.1% in conjunction with a $100 BILLON government bond buying program over the next 6 months, as it strengthens its resolve to rescue the Australian economy from its first recession in almost 30 years.
And this morning, news has come out that China has ordered traders to stop purchasing at least seven categories of Australian commodities, including coal, barley, copper ore and concentrate, sugar, timber, wine and lobster, ratcheting up tensions its key trading partner, US, in its most sweeping retaliation yet.
In today’s investment webinar Nucleus Wealth’s Head of Investments Damien Klassen, Chief Strategist David Llewellyn Smith and Head of Advice Tim Fuller cover Trading the US election, RBA rate cut and China export chaos
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Tim Fuller is Head of Advice at the MacroBusiness Fund, which is powered by Nucleus Wealth.
The information on this blog contains general information and does not take into account your personal objectives, financial situation or needs. Past performance is not an indication of future performance. Tim Fuller is an authorised representative of Nucleus Wealth Management, a Corporate Authorised Representative of Nucleus Advice Pty Ltd – AFSL 515796.
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“This is a victory for the true believers”
Rofl!
Perfect.
AUD all over the shop, but downward trend establishing now?
https://www.dailymail.co.uk/news/article-8909537/Joe-Biden-starts-election-day-attending-morning-mass-visiting-son-Beaus-grave-Delaware.html
‘This is my son, Beau, who a lot of you helped elect to the Senate’: Joe confuses his two granddaughters and then introduces one of them as his dead son – and he could be your President in HOURS…
Regardless of who becomes president of the United States, we’re in for another hilarious (and depressing) 4 years of US politics
🤣
leaders of the world. lol. It was funny enough the last term or not funny depending on how you look at it – but my god if sleepy wins, what a show it will be. I liken it to Corbyn v Boris on steroids. I reckon if Trump goes on again, he will be so sick of the job that he will do everything possible to get out, that will be the true show maybe even top the Biden leadership. fair dinkum crazy world
Markets also don’t know who they want. It’s all bad so markets up!
go trumpo, go son, go, go , go ,go… ( that’s the whip riding the ole boy home ), Biden’s getting cleaned up for the protest back at the stewards already. Good luck sleeeeeepy.
Good China analysis David. I wonder how long it’ll be before a lot of Aussie industry wakes up to what has occurred?
– This QE only will “kick the can down the road” for a while. It will only postpone and INCREASE the inevitable DEFLATIONARY pain that’s still up ahead. Because the government still has to pay principal & interest on those bonds.