Australian Shares

By Chris Becker  Last night saw the return of risk despite another record blowout in unemployment claims in the US, where daily deaths from COVID-19 are now well over 1000.

Another down day for Asian stock markets as local markets finally catch-up to the runoff in risk around the region, as USD strengthens a little across the majors, including gold which slipped further.

The Australian dollar is up few pips this morning: Bonds are strong: XJO has gapped much of yesterday’s inexplicable surge: Big Iron is down.

By Chris Becker  As the TrumpVirus becomes exponential, stocks were again the hardest hit overnight as risk shifted away from commodity currencies as well, with already record low bond yields dropped further in the wake of the crisis.

Another volatile day for Asian stock markets with a clear divergence between external hesistion and internal delusion as the ASX200 continues to be bid higher.

Via The Australian: Veteran fund manager Geoff Wilson has warned that “everything is on the table” when the government looks for ways to pay for its massive spending spree to support the economy in the midst of the coronavirus pandemic.

The Australian dollar is still soft this morning: Bonds are bid out the wazoo: Sometimes the Australian stupidity premium can make a few dollars.

By Chris Becker  So the first quarter of 2020 is over – doesn’t it feel like a year already?

A volatile day for local stocks while other Asian bourses were very unsteady following the broad gains on Wall Street overnight.

Via Goldman: “After a swift 18% rally [last week], the most common investor question was ‘has a new bull market started ?’” Goldman analysts, led by David Kostin, wrote.

The Australian dollar is soft: Bonds are still firm if off a little: Stocks to the moon!

Via the excellent Damien Boey at Credit Suisse: The Australian government has pledged an additional $130 billion over the next 6 months in wage subsidies.

By Chris Becker  Overnight risk markets took the stimulus ball and ran with it, ignoring the growing COVID-19 virus caseload and deaths, particularly in the heart of the global economic machine, the USA.

Outside local stocks its been another rough start to the trading week throughout Asia for risk markets, but US futures are pushing higher as the risk complex again reweights the growing pile of virus victims versus the verisimilitude of a v-shaped recovery!

By Chris Becker  It’s crunch time for stock markets around the world this week as its plain to see that the combined efforts of central banks and fiscal stimulus has had almost no impact on the reality that is a major recession forthcoming in 2020.

Outside local stocks its been a solid session throughout Asia for risk markets, but US futures are pulling back as all eyes are on the US Congress passing the stimulus bill.

By Chris Becker  Stimulus packages are pumping air into the carcass that is the dead cat like a bagpipe, with Wall Street rallying on hopes that the cheques from Congress will save the next quarterly earnings bell.

A very mixed day here in Asia with most stock markets in retreat mode after what was a stellar start to the Trading Week.

By Chris Becker  The dead cat is now in hover mode as Wall Street was unable to translate epic gains in Asia then Europe into anything substantial, with the NASDAQ actually retreating slightly despite the substantial stimulus packaged passed by Congress.

A sea of green across Asian stock markets today following the surge on Wall Street last night as markets mistake the absence of selling as the absence of a bear market.