Australian Shares

Just in case you thought Aussie stocks would rise today.

Damien Boey at Credit Suisse has taken his bear pill today: Investor concerns about trade tensions are soothed by Kudlow Overnight, investors were initially very concerned about trade retaliation measures announced by Chinese officials.

Via BT’s excellent Vimal Gor today: There are two attitudes you can take to the February 2018 “flash crash”.

According to the stock market, Australian banks are not well.

The Aussie dollar is up a bit today after OK retail sales in March: Bonds are getting sold and, amusingly, the short end is even threatening to break out.

Asian stocks continue to buck around on higher volatility with most bourses putting on small gains, while the ASX fell to its lowest level in months.

The AUD is at new lows during the day: Bonds are bid: XJO is plumbing new lows: Dalian is flat: But Big Iron is copping it.

By Chris Becker The poor showing in Asia did not translate into further falls in Europe, but the slump in Tesla stock and other techs pulled Wall Street down last night, slightly moving the risk edifice into correction territory.

Asian shares reliably reacted negatively to the late overnight activity after the new Trump threats to  China trade with a big impact on tech stocks.

The Australian dollar is still hanging on at the lows of recent correction: But bond yields are bid big: And XJO is also back to the lows: As Dalian tumbles again: Big iron is under pressure.

Three pieces of research today address the question.

By Chris Becker Trust the Trump White House to screw the pooch on this attempted recovery, with news that a potential crackdown on Chinese electronic goods sending the NASDAQ tumbling 3%, taking down industrial stocks with it.

The last few weeks have confirmed our view that most of the cash from Trump tax cuts will end up as dividends or buybacks.

The solid rebound on Wall Street last night translated into similar gains here in Asia, although a late selloff in China pared gains on the mainland.

The Aussie dollar is down during the day: Bonds are off: XJO is adding a lousy 40 points despite the global rebound: Dalian is up: Big Iron too though not FMG which has fallen right to its $4.50 support.

By Chris Becker The fluff and broth surrounding Trump’s trade war is simmering down, with news of moderation around China’s tariffs and other “deals” from the US Treasury sending stocks soaring on Wall Street overnight.

Not the Stormy session we were expecting here in Asia with most stock markets rebounding instead of following the very poor lead on Wall Street from Friday night.

A bath of blood on Asian stock markets today in response to the impact of the US tariffs on Chinese goods.

The Australian dollar is still holding around 77 cents: Bonds are bid, especially at the long end: XJO is down the better part of -2%: Dalian has crashed: And Big Iron is going with it.

By Chris Becker Trump has pushed risk markets into correction territory with his new round of Chinese tariffs, with US stocks slumping over 2% across the board in response.

Reaction to the overnight rise in rates by the Federal Reserve has been mixed here in Asia with Chinese bourses slipping in the wake of the PBOC lifting interest rates too, while Japanese traders returned from a mid week holiday in a positive mood.

By Chris Becker US stocks didn’t like the tightening attitude at the “new” Fed, with an expected rate rise but not hawkish enough attitude slamming the US dollar and wavering resolve around the punch bowl drunk stock market.