Australian Shares

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Macro Afternoon

by Chris Becker The end of another week of trading here in Asia and its all about keeping the ship steady until the Americans wake up again. Aussie stocks fell with most Asian bourses putting in scratch or slightly positive sessions. The USD gained somewhat against Yen and Aussie dollar but the Euro continues to

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Macro Afternoon

by Chris Becker Hesistation across Asia today as US markets go quiet for Thanksgiving and retailers around the world ramp up for the Black Friday day/weekend/week. In mainland China the Shanghai Composite has reversed its recent breakout above 3400 points and then some, swiftly selling off into the close by slump more than 2% to

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Macro Afternoon

by Chris Becker Risk has doubled down in Asia with new highs almost across the board as the USD retreats and the yield curve flattens as all and sundry join the stock market trainride. In mainland China the Shanghai Composite continues its breakout above 3400 points, lifting 0.3% to be at 3419 points.  The Hang Seng Index

2

Global shares boom to record highs on “rational exuberance”

The MB Fund S&P500 long is the gift that just keeps giving. DXY eased overnight: Phil Lowe’s hapless optimism lifted the AUD against DMs: And EMs: Gold held on: Brent was firm: Base metals know that China is not slowing: So do big miners: And EM stocks: Even junk firmed: US yields took off as

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Macro Afternoon

by Chris Becker Risk is back in Asia, although you wouldn’t think it using the Aussie dollar as a risk proxy, as it heads to a new five month low. All stock markets lifted in line with the reversal in mood overnight, although Chinese stocks seem to be getting ahead of themselves as worries over

0

Macro Morning

By Chris Becker Markets absorbed the news of Janet Yellen’s resignation overnight, somewhat because its just procedural as Trump’s nominee Jerome Powell will take over at the end of her tenure – but in the main because its likely her replacement will effect the same type of monetary policy. A small rebound in US stocks was overshadowed by

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Macro Afternoon

by Chris Becker Not a good start to the week for risk as Asian stocks fall in reaction to weekend news of troubles in forming a new government in Germany, combined with fallout from Chinese authorities warning about their own overheated markets. Valuations are very stretched and the usual platitudes are not suffiecent enough drivers

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Australian dollar, ASX fall together

The AUD is under clear pressure: Bonds are bid: But the shitty ASX can’t catch a  bid: Dalian is firm at the open: Big Iron flattish: The Pensioner Killers are rising. Clearly the bourse thinks STO can get the nod. I will personally burn an Aussie flag in Yarraville Square if it does: Big Gold

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Macro Afternoon

by Chris Becker The USD has stalled and turning tail against Yen, but not the Aussie dollar which now looks finished. Stocks in Asia on the main rallied, putting in some solid sessions to finish what has been a volatile week. All eyes now to Wall Street to see if it can follow through on

6

ASX struggles to regain momentum

The ASX is struggling to regain momentum today,  up a measly 20 points: Despite the AUD trading at the lows: As the yield spread to the US on the two year hit just 8bps. Inversion imminent! Dalian is firm: But Big Iron soft, except FMG: The Pensioner Killers are up and away on the STO

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Is Domain the next McGrathmageddon?

Following yesterday’s Domain float, it’s a more than fair question given the prima facie similarities between the business models. Both are real estate listings firms. Both derive profits from selling property. Strategically, both are under attack from online disruptors. There are two major difference between the businesses. First, real estate agencies are a more dependent upon

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Macro Afternoon

by Chris Becker A recovery of sorts in Asia today with most stock markets lifting as selling sentiment exhausted itself. Chinese banks received some big injections from the PBOC today with commodity prices relatively stable. The Aussie dollar found a floor finally on the surprisingly good unemployment print. In mainland China the Shanghai Composite is

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Macro Afternoon

by Chris Becker While it was a “yes” here in Australia, Asia is saying no to risk with stock markets continuing to selloff amid a broadening correction. The solid GDP print in Europe overnight was followed by a positive, but no upside surprise in Japan today, but sentiment sent stocks down as the Yen appreciated. In

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Macro Afternoon

by Chris Becker Another poor session here in Asia with most stock markets off again as risk seems to be off the able in prepositioning for a slew of key economic prints and central bank talkfests in the coming sessions. In mainland China the Shanghai Composite was down over half a percent before lunch, before

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Macro Afternoon

by Chris Becker Not the best start to the week here in Asia, with most stock markets either in the red or putting in scratch sessions in response to a tepid night on Wall Street on Friday. The Pound dropped in response to the weekend machinations around PM Theresa May while Yen is slightly weaker.