by Chris Becker Hot money continues to wind out of long oil and into Yen and other safe havens like gold, sending Japanese stocks down while Chinese and Aussie (but I repeat myself) stocks initially rallied. Stock futures for the US and European markets are flat alongside currencies however. In mainland China the Shanghai Composite
Dalian soft today which makes sense since its outlook is getting worse not better: But the technical action is enough to have reversed some of yesterday’s losses in Big Iron: Big Gas stinks of false hope today as it rises a little: Oil going sub-$40 in my view… Which means Big Gold is a buy
From Credit Suise: Slip sliding away? With the sector falling more by the day, we thought it was worth an update on what stocks are pricing in, where balance sheets sit and what the Australian industry is doing (or not as the case may be). Perhaps it is an indictment on where valuations were before,
From Citi: Safe haven — With foreign investors tending to own close to half of the Australian market, its prospects relative to other markets, particularly in Asia, have some significance for potential flows in and out. Within the key regional benchmark, the MSCI Asia ex Japan index, Australia, as the second largest market, just
By Chris Becker Another retreat in risk overnight on the back of slumping oil prices with both oil markers now in bear market territory, dragging energy shares down on the S&P500 while tech stocks remain buoyant. While oil is now down over 20% since the start of the year – suck on that OPEC
by Chris Becker This time only mainland Chinese stocks are enjoying the feel of green, led by rebalancing in the MSCI Index as a sea of red screens swamped the rest of Asia, led by a big selloff in Australian stocks. Yen is gaining as the safe haven once more alongside a small blip higher
Dalian has opened flat: Big Iron has broken with FMG right at new intraday lows, BHP crashed through them, and even coconut vendor RIO under pressure: Big Gas is now burning out of control with STO pointing straight towards new 40 year lows: Big Gold is chopping wood in its correction: Big Bubble is bursting
By Chris Becker The USD and Treasuries rose in lockstep as US stocks retreated due to the retreating oil price overnight as tech stocks took a tumble following their too-fast rise in the previous session. Without much economic news to go on, risk markets are reacting to political and other macro events. A speech
by Chris Becker Outside of Japan it hasn’t been a fun day in Asia with most regional stock markets closing in the red, in opposition to a strong lead overnight on US and European markets. The stronger USD on the back of hawkish Fed comments is only finding resistance against the Aussie as commodities retreat
Dalian is wandering aimlessly today: Big Iron is mostly up: Big Gas is burning: Big Gold is correcting: Big Bubble has had its run seemingly: Big Liar is soldiering on: And a bonus chart today, hope your enjoying Australian exceptionalism: If not, try the MB Fund launching July 1st with a 70% international equities allocation. Sign
Morgan Stanley gets it: Merging three key Australian macro slowdown themes with our quantitative regional MOST stock selection model, we highlight our best stock ideas. We also provide an update on recent factor performance and note a mid-month revival. Our timing model remains positive on momentum. Crunch time – three themes: Our domestic slowdown thesis
By Chris Becker The US dollar rallied overnight alongside US tech stocks and European bourses as the risk-on mood re-ignites following some quite hawkish comments from Fed Governor William Dudley. The move higher more than offset losses in energy stocks as the oil price continued to fall as US oil rigs keep pumping, foiling
by Chris Becker Its a bright start to the week with Japanese stocks leading the way across Asia as safe haven buyers retreated away from Yen and filled in to commodity proxies like the Aussie and Kiwi. In mainland China the Shanghai Composite is up over 0.5% going into the close at 3137 points, still
Dalian is holding up today: But Big Iron is getting hit with FMG at new closing lows as Citi downgrades: There is a very long and embarrassed list of brokers to follow… Big Gas is getting a little relief: Oil has further to fall… Big Gold is off as DXY rebounds: Big Credit is up
By Chris Becker Another wonderful week on macro markets begins! Last week saw continued domestic imbroglio in the US not able to translate to further volatility, instead relying upon the FOMC meeting to deliver a weak punch with its fourth rate rise to the rising inflation meme, with official CPI slowing. Treasury yields are inexorably
Via Goldman: Unintended Consequences of Outperformance While FANG has dominated investor focus, the nature of the acronym has expanded more broadly to encompass mega-cap tech. Indeed, the bigger story in our view is FAAMG – Facebook, Amazon, Apple, Microsoft and Alphabet – a group of five stocks which have been the key drivers of both
by Chris Becker A mixed end to the week for Asian shares with the Yen falling on the BOJ continued stimulus position, while Aussie and other markets sold off going into the close to end a lacklustre trading session. In mainland China the Shanghai Composite is down going into the close, off approx. 0.2% to
By Chris Becker A double whammy of energy and tech stocks retreating on Wall Street overnight as the USD surged on more hawkish comments from the Fed. Not helping is a widening political scandal in the US that is likely at best to delay the Trump’s administration plan to rollout the infrastructure gravy train,
by Chris Becker The negative lead overnight has turned into a mild selloff across Asia with Australian stocks falling the most after a stonking jobs report sent the Aussie dollar higher. In mainland China the Shanghai Composite is stable going into the close at 3132 points, still clinging above key support at the 3100 point
The ASX two day boomlet has fallen over today, down 1.4% as I write. It started badly but then got worse with the good jobs number: I guess the market was sneakily readying for more rate cuts. Not yet. Meanwhile, Dalian is stable: But Big Iron is getting slammed (even coconut vendor RIO): As oil
By Chris Becker As the Fed held to its interest rate rise agenda overnight, even as domestic inflation tapers off and in the face of what looks like a whimpering Trump fiscal plan, US stocks retreated as volatility begins to build. With one more hike left for the calendar year, Treasury traders are scratching
Via Domainfax: Bell Potter senior trader Richard Coppleson attributed the market’s robustness to the superannuation changes taking place on July 1, which will place caps on concessional contributions. Super fund members are able to bring forward non-concessional contributions of up to $540,000 in 2016-17, but from July this falls to $300,000 for 2017-18. “With the super changes on
Don’t look for rationality here. Dalian is soft: But Big Iron is mostly up: FMG is up 1% even as iron ore hits new lows. Makes no sense but the 58% discount has eased a little so not entirely crazy, either. More losses ahead. Big Gas is mixed: No upside here as oil falls with
By Chris Becker A more positive session last night with US and European stocks pushing higher as the USD retreated against the majors coming into this weeks FOMC Meeting and tonights CPI print.. UK inflation came in a bit hotter than expected, helping reverse some of the Pound’s recent losses on the May election
by Chris Becker The selloff in tech stocks overnight has not affected Asian bourses as much as expected, with real caution and volatility still surrounding the outcome of the UK election and the shenanigans in the US. In mainland China the Shanghai Composite zoomed straight up after the long lunch break, reversing some of yesterday’s
