Australian Shares

By Chris Becker  Markets almost brushed aside the strong US jobs print on Friday night and continued to hasten their retreat from risk taking with European bourses falling to a new yearly low, while Wall Street stumbled into the close with a near 2% loss.

Well here with go again with more selling as the dead cat rolls over on Wall Street, knocking out the line of dead cat’s here in Asia (or is it just a flesh wound?) with stocks sold off across the board.

The Australian dollar’s RBA stupdity premium is alive and well this morning: Bonds are heavily bid anyway knowing that the stupidity is on a short fuse: XJO is at new closing lows: Big Iron is down with BHP most heavily hit: Big Gas is flared again.

By Chris Becker  Markets are being spooked again by the coronavirus with US stocks pushed sharply lower over a spike in US cases overnight, sending the USD and bond yields down with them.

The Australian dollar has been unable to add to the RBA stupidity premium this morning: But bond markets have, getting absolutely flushed: XJO has rallied in forced madness from Wall St: But S&P futures are down again: Big Iron is fixed!

By Chris Becker  The Fed surprise has turned into a Super Tuesday surprise with the promise of a moderate Democrat in the form of VP Joe Biden boosting Wall Street’s hopes that no stinking socialist will grace the White House anytime soon.

The bounce stumbled overnight but has continued here in Asia as the news of the Federal Reserve’s surprise rate cut in the wake of the economic impact of the coronavirus has been absorbed without the fear on Wall Street.

The AUD’s RBA stupidity premium is eroding this morning: Bonds are still hot stuff: The XJO bubble is still bursting: Big Iron has a little dead cat bounce going: Big Gas doesn’t: Is there hope yet for Big Gold?

By Chris Becker  The Fed has surprised and spooked markets by announcing an out of cycle rate cut, sending confidence down alongside bond yields, the USD and Wall Street.

The bounce continues although its only a half inflated ball, with Japanese shares lagging and US futures slipping going into tonight’s session.

When the touble starts, Dr Doom is never far away: DER SPIEGEL: How severe is the coronavirus outbreak for China and for the global economy?

By Chris Becker  Bouncy bounce bounce!

To the moon!

It’s all about the bounce today with either the start of the recovery or a dead cat bounce underway as all equity markets save the local ASX200 have seen positive results for the first time in a week.

Via Damien Boey at Credit Suisse: Last week, we updated our views on volatility.

The bloodbath sloshes on.

There are a few chosen bears around the place, via Bloomie: A decision to unload a big slug of tech megacaps in January sat poorly for a while with Andrew Slimmon, who helps run stock funds at Morgan Stanley.

By Chris Becker  Friday night saw an increase in intensity of selling, at least during the European session which some sanity prevailing on Wall Street eventually.

Well it’s been a fun ride this week and it continues with another 3-4% selloff across the board today as fear turns to panic.

The AUD has softened a bit this morning: Bonds are still deludedas the curve mysteriously steepens: XJO is plastered.

Nobody can take away from the astonishing success of Hamish Douglass.

The stock selloff deepened today in Asia as pandemic fears gripped markets across the region.

By Chris Becker  A modicum of stability arrived on equity markets overnight, but commodities – particularly oil – remain depressed, as bond yields continue to fall.