Chris Becker

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Chart of the Day: Houses and Shares

Bricks and mortar or terabytes and algorithms? Pick your poison, but be sure to pick your timing before throwing stones in glasshouses. Here’s a chart from the St Louis Federal Reserve, via Cameron Murray’s blog comparing the broad measures of both the housing and share markets in the US. Note that the vast majority of

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Earnings Update: CBA, CPU, FXL, SGP

Four companies reported earnings today on the ASX: Flexigroup (FXL), Commonwealth Bank (CBA), Computershare (CPU) and Stockland (SGP). Macrobusiness will be reporting on earnings and valuing the key companies throughout the earnings season. Remember to bookmark the overall update here. Flexigroup (FXL) Flexigroup, a point-of-sale lease/rental finance company, announced a 27% increase in net profit

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Trading Day

The S&P/ASX 200 jumped again on the open, and is now up over 124 points or 3% at 4158 points. Other Asian markets are experiencing similar big gains, with the Nikkei 225 up 1.15% at 9047 points, and the Hang Seng up further, up 3.3% at 19935 points. Other risk assets are mixed, with the

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Earnings Update: Dutch disease hits Coke

Five companies reported earnings yesterday on the ASX: Reckon (RKN), Bradken (BKN), Cochlear (COH), Coca-Cola Amatil (CCL) and an update from National Australia Bank (NAB). Macrobusiness will be reporting on earnings and valuing the key companies throughout the earnings season. Remember to bookmark the overall update here. Reckon (RKN) The accounting software company posted its

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Chart of the Day: Central bank dilemma matrix

From Bloomberg via Zero Hedge is this curious bubble chart mapping out the four corners of economic hell, where Tyler Durden says “Nobody wants to be in the lower left or the top right”. I would have thought the upper left is the corner no central banker wants to be responsible for. The Aussie bullhawks

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Trading Day

The S&P/ASX 200 slumped again on the open, after absorbing one of Wall Streets biggest one day falls in history. The market is down over 168 points or 4.4% and stands at 3817 points. Other Asian markets are experiencing similar sharp losses, with the Nikkei 225 down 4.5% at 8692 points, and the Hang Seng

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Earnings Update: JB Hi-Fi and Bendigo

Two companies reported earnings yesterday on the ASX: JB Hi-Fi (JBH) and Bendigo and Adelaide Bank (BEN). Macrobusiness will be reporting on earnings and valuing the key companies throughout the earnings season. Remember to bookmark the overall update here. JB Hi-Fi (JBH) JBH reported a profit of $134.4 million in the 12 months ended 30

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Trading Day

The S&P/ASX 200 slumped on the open, after absorbing the S&P downgrade over the weekend, then recovered somewhat but has now rolled over again after lunch. The market is down over 73 points or nearly 2% and stands at 4031 points. Other Asian markets are experiencing similar sharp losses, with the Nikkei 225 down 1.3%

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The Great Volatility

The S&P/ASX200 has slid 12% in four weeks with similar falls across major developed markets as the Western crisis has gathered pace in the past month. Apart from the usual and vapid insistence to buy any and all stocks now because they are “cheap”, some commentators have said that ”buy and hold” is dead and

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Anatomy of a Crash

The mainstream media (MSM) have repeated verbatim their headlines of drastic downturns in stockmarkets, but what’s really going on around the world? In this post I want to illustrate the anatomy behind worldwide market ructions, placing them in context to the 2007/08 crash using some macro charts, and how its not just stock markets “suffering”.

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Earnings Update: Resmed

Only one company reported earnings today on the ASX: Resmed (RMD). Macrobusiness will be reporting on earnings and valuing the key companies throughout the earnings season. Remember to bookmark the overall update here. Resmed(RMD) Resmed, a manufacturer and marketer of respiratory disorder products, announced year end revenue of US$1.2 billion, a 14% increase, resulting in

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Next Week: earnings continue

Amongst the market meltdowns, the data prints and earnings reports roll on – what’s coming up next week? Locally, housing and finance lending data will be closely scrutinized. The share market continues with full year earnings results – click here for my continually updated post on earnings, including links to news and valuations. Internationally, its

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Trading Day

The S&P/ASX 200 slumped on the open, down over 160 points or nearly 4% and is now at 4115 points. Other Asian markets are experiencing similar sharp losses, with the Nikkei 225 down 3.5% at 9319 points, and the Hang Seng falling further, down 4.5% at 20895 points. Other risk assets are getting walloped, with

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Chart of the Day: bear is back

Today’s charts come from Avid Chartist, who has summarised last night (and in fact the whole week) bear action on his blog. This is a bear market – where rallies (on expectation of milky wilkies – QE, stimulus, rate cuts etc) will be sold short by traders. The most closely watched equity market – the

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Earnings Update: RIO, TCL, ERA

Three companies reported earnings today on the ASX: Rio Tinto (RIO), Transurban (TCL) and Energy Resources Australia (ERA). Macrobusiness will be reporting on earnings and valuing the key companies throughout the earnings season. Remember to bookmark the overall update here. Energy Resources of Australia (ERA) ERA reported a loss of $121.7 million in the six

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Trading Day: QE reprieve?

The S&P/ASX 200 is down slightly after midday, 16 points or 0.3% at 4316, after digesting European market plunges and US market shenanigans overnight. Other Asian markets are experiencing gains, with the Nikkei 225 up 0.97% at 9724 points, and the Hang Seng steady at 22026 points. Other risk assets are generally down, with the

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Chart of the Day: Current Account Deficit

Today’s chart comes from Cameron Murray’s recent expose on Australia’s persistent current account deficit. The chart (and Cameron’s analysis) highlights the key difference between Australia and Norway (and other stable advanced economies), if we were ever to attempt to create a SWF, or indeed change from a debt based economy to a productive one.

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Charting the RBA

The RBA has released its monthly Chart Pack and like last month’s release, I’m going to have a look at this impressive data set for MacroBusiness readers. A warning, its chart heavy (obviously). The Chart Pack is divided into 16 categories, including international data, but this month I want to concentrate on domestic data, but

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Trading Day: bath of blood

The S&P/ASX 200 crashed on the open and is down over 2% at midday, or a total of 96 points at 4337, wiping out 12 months worth of gains, and back down to the pre-QE2 low of August 2010. Other Asian markets are experiencing similar losses, with the Nikkei 225 down 2.17% at 9631 points,

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Chart of the day: S&P head and shoulders top

The US S&P500 fell over 2.5% last night – a harbinger of further falls. Today’s chart shows that a head and shoulders formation has been completed, with the neckline at 1250 points (the orange line) and below the 200 day moving average. If the S&P500 closes the week below the neck line, the US stock

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Trading Day: can’t get no relief

The S&P/ASX 200 slumped on the open and is down over 1% after midday, waiting for the princes at Martin Place to maker their decision. The market is down a total of 58 points or 1.32% at 4439, wiping out most of yesterdays stellar gains. Other Asian markets are experiencing similar losses, with the Nikkei

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Chart of the Day: iPhone

As much as I hate pie charts, this one, a survey result from Business Insider is interesting for 3 reasons: First, why the rush for non-iPhone owners to get one, secondly, looks like iPhone is Pacman on the second chart, eating up the competition, but third, this explains why Apple (AAPL) sits on a ton

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Trading Day: relief rally

The S&P/ASX 200 jumped on the open and is up over 2% after midday, due to the “resolution” of the US debt crisis announced this morning. The market is up a total of 90 points or 2% at 4514. Other Asian markets are experiencing similar gains, with the Nikkei 225 up 1.87% at 10013 points,

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Chart of the day: Gold top

Today’s chart comes from The Bullion Baron, who considers gold (in USD) to be in a possible short term top, although he contends (and I agree) that over the medium to long term, gold is likely to go higher from here (particularly if the debt ceiling is raised but not sure, if US spending is reduced):

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Chart of the Week

This week its a trio from an extensive report compiled by the Australian Bureau of Statistics (ABS) – Australian Economic Indicators – link is here. The publication contains statistics under the following headings: national accounts, international accounts, consumption and investment, production, prices, labour force and demography, incomes and labour costs, financial markets, state comparisons and

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Market Earnings Season

The full year earnings season for listed companies on the ASX is upon us. MacroBusiness will endeavour to report earnings and surprises on the relevant ASX200 stocks, particularly the banks, retail/discretionary and resource companies as they come through over the next month or so. This post will be updated continously with links to the announcements,

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Next Week: rates rising (updated)

With no resolution to the US debt crisis, a larger than expected CPI print, and general instability across world markets, what’s coming up next week in terms of data, announcements and the like? Locally, the RBA Meeting on Tuesday will be watched, scrutinised and verbosely commented on by all (including here at MacroBusiness, but we

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Trading Day: bears have won

The S&P/ASX 200 opened slightly higher this morning on mixed messages from overnight equity markets, but has now slumped to a 10 month low, at 4447 points, down 0.37%. Other Asian markets are experiencing smaller losses, with the Nikkei 225 down 0.13% at 9888 points, and the Hang Seng down 0.18% at 22534 points. Other

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Chart of the Day: PE or not PE

That is the question: today’s chart(s) are from Wilson HTM’s recent research on Australian equities which was prompted by Sell on News recent article on what is the fair value of the ASX200/All Ords? (h/t Damien for supplying the report) The first chart shows the All Ords trailing Price/Earnings ratio going back to 1959: Most

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Trading Day: a waiting game

The S&P/ASX 200 slumped this morning on overnight falls from other equity markets, and has stabilised at 4485 points, falling 1.2%. Other Asian markets are experiencing similar losses, with the Nikkei 225 down 1.05% at 9941 points, and the Hang Seng down 0.8% at 22354 points. Other risk assets are steady, with the AUD consolidating