Australian Shares

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Macro Afternoon

A solid day across Asia despite the poor lead overnight from the lack of trading in the US and the pullback in European stocks. Only Aussie stocks pulled back as the USD regained a small amount against the majors, including Yen, after being pummelled for nearly a week.  Bonds were largely unchanged while gold advanced

7

Australian dollar rocket cooks ASX

Dalian is stable at the open today: That’s not helping the ASX which continues to sink as the AUD rises: Indeed there are two possible head and shoulders top patterns developing, one small and one much larger. Big Iron is listless: Big Gas is getting hosed as brokers downgrade: Big Gold is still charging but

0

Macro Morning

By Chris Becker The Yanks had the night off but that didn’t stop the selloff in USD with the Euro lifting higher, pushing European stocks marginally lower after a solid Asian session. Commodities continue to appreciate in the wake of the dead King of currencies with gold almost back to its 2017 high. In bond

20

Macro Afternoon

So, the basic message out there in risk-land is: sell USD, buy everything else. Its a pretty simple meme that has a potentially large volatile payoff in the end for those willing to go long USD or short risk on very cheap risk premia…Anyway, stocks across Asia have rallied with Yen gaining against USD while

6

Big Iron booms as China warns

Dalian is open and did not like the weekend Chinese credit data. Nor should it: Big Iron doesn’t care: And it may be able to pretend through Q1. After that, look out as China building slows. Big Gold is rocking as the DXY falls. I’m definitely a seller here. The further the USD falls the more

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Macro Morning (Trading Week)

By Chris Becker  It’s this last stage in a blowoff where detailed technical analysis is almost not necessary, as anyone with a ruler and damp finger stuck in the air can sense the bulls are running rampant. What becomes more interesting is looking for divergences between this megatrend and the outliers, of which Australian stocks

7

Macro Afternoon

A mixed end to the trading week here in Asia with only a handful of markets putting on any gains as risk appetite wanes going into tonight’s session. The bond market has been steady, although the selloff in Aussie 10 years continue with yields up another point, Treasuries are stable. In mainland China the Shanghai

1

Macro Morning

By Chris Becker The so called bond rout has only lasted a day with a rally sending yields back down while stocks made new record highs on US markets overnight. The ECB released their latest minutes which sent the Euro soaring against USD as they suggest a tweaking of stimulus in line with what they

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Macro Afternoon

Outside China, Asian stocks have not fared well today as profit taking and risk aversion following the moves in the bond markets remains the key strategy. Yen backed off slightly against USD but is still sought after as a safe haven while Aussie bond yields spiked another four points higher to a new high. In mainland China

1

Macro Morning

By Chris Becker Stocks finally had a bad day overnight in the fallout from the bond rout and the possible US withdrawal from NAFTA, which had the dollar surge against the Loonie and Peso. US Treasuries didn’t move as expected during the filled auctions overnight with yields unchanged while commodities continued their move higher. Recapping

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Macro Afternoon

A mid week pause in the “Great Rally of 2018” as most Asian indices treaded water or retreated proper following what was a good lead from Wall Street overnight. This is mainly due to action in the bond market as yields continue to spike, spooking risk managers as they head for safe havens like Yen.

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Aussie stocks still lead the dividend game

As stock markets make new highs around the world, the only real laggard is the ASX200/All Ords. While it has nearly doubled since the GFC nadir, or at about 7% per annum, Australian stocks are yet to exceed their 2007 highs: One of the most enticing aspects of Australian stocks has not been their growth potential,

1

Macro Morning

By Chris Becker You guessed it, another night of record highs in US stocks, but more interesting was the selloff in bond markets, precipitated by the BOJ taper yesterday that saw US Treasury yields hit a near one year high. More on that later. The USD continued to come back as well, while oil prices

10

Macro Afternoon

Another solid day on stock markets here in Asia despite some disappointing results, particularly Samsung as we begin another round of earnings season. The Yen appreciated on the back of some BOJ manuevering around its bond buying program with Aussie 10 year bonds still selling off, with yields up at 2.67% In mainland China the

0

Macro Morning

By Chris Becker While the Dow retreated slightly overnight, the S&P500 and NASDAQ both advanced to new record highs on the back of tech stocks, and a positive Asian lead. European stocks continued their resurgence as well, helped along by a stronger USD as Euro retreated to a two week low. Oil prices remained elevated

15

Macro Afternoon

A relatively good start to the week here in Asia with most stock markets advancing, although Japanese bourses were closed for another holiday as traders await a big slab of earning reports across the region. The USD rose against most currencies, especially Korean Won while gold was relatively steady. In mainland China the Shanghai Composite has

0

Macro Morning (Trading Week)

By Chris Becker  It’s hard to be a bear in this risk environment, when economic news comes in above or at already high expectations. Friday night’s non-farm payroll numbers gave a splendid headline number, and a month long reason for the bulls to bid up stocks across the risk complex. The USD retreated against the

27

Macro Afternoon

A solid if subdued session to end the week here in Asia with all stock markets advancing, the highlight being the ASX200 which is playing catch up after being left behind for most of the week. In mainland China the Shanghai Composite has continued its advance lifting 0.4% to be just below resistance at 3400 points, setting up for

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Macro Morning

By Chris Becker The Dow hit 25,000 points as stock markets around the world continue the NYE party into the New Year. Following the strong Asian lead, European stocks did well, advancing strongly across the continent while US traders braved a superstorm to keep the BTFD party going. Recapping action in Asia yesterday where in

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Stocks to short for your grandkids

Richard Bookstaber recently put out an interesting post on sectors that he thought had problems on a 30-40 year view.  Richard is the author of a number of good finance books – I liked A Demon of Our Own Design: Markets, Hedge Funds, and the Perils of Financial Innovation and I have his new one The End

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Macro Afternoon

A very positive day here in Asia with all markets lifting higher, pushed along by the comeback of Japanese bourses following their extended NY holiday and another record high in US stocks overnight. Commodity prices continued to rise alongside other risk assets as the bull market 2018 party rages on! In mainland China the Shanghai

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Macro Morning

By Chris Becker US stocks make another new record high in the wake of the release of the Fed Minutes, with the USD rising against Yen and Euro. The ISM manufacturing print for December came in stronger than expected while European markets advanced after the New Year hiccup over new financial regulations that just kicked

13

Macro Afternoon

Following the solid night on Wall Street, Asian stocks have advanced solidly across the region as commodity prices remain elevated. Oil prices are higher on tension brewing in Iran while bond yields continue to pip higher on the back of a selloff in Treasuries with Aussie 10 years making a new high. In mainland China

4

Macro Morning

By Chris Becker The trading year begineth after a Christmas/New Year break that saw USD sold off against – well, everything except Bitcoin. Bringing 2017 into 2018, US stocks put in another new record high, but European bourses were more cautious due to the higher Euro, as all the major currencies lifted against King Dollar.

7

Macro Afternoon

So as we gently roll into the new trading (and blogging – give me time to warm up!) year, its still a case of low volume, low volatility and low expectations. In Asia today it was all about Chinese shares as Japanese bourses were closed for a holiday, with most traders down under also still

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Macro Afternoon

by Chris Becker A mixed day here in Asia as the Bank of Japan leaves its monetary settings and stimulus on the same path and stocks continue to already price in the Republican tax plan passed last night. Yields on longer term government bonds continue to climb higher while commodities are relatively stable as oil

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Macro Morning

By Chris Becker US stocks tried to rally on the Trump “victorious” tax cuts which were passed last night, but failed to fire with European bourses falling sharply on the upcoming Catalan vote and a higher Euro. The real action was again in the bond market, with US 10 year Treasury yields spiking up through

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Macro Afternoon

by Chris Becker Heading into the vote on the Republican tax plan, risk markets are taking the foot off the accelerator with most stock markets in Asia retracing or treading water on lower volumes. The action is in the bond market with Treasuries selling off while Aussie and German bonds also see high single digit

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Macro Morning

By Chris Becker US stocks pulled the reins on the sleigh of the Christmas stock market rally as the Republicans began their first round of votes for their dubious tax plan overnight. The USD stumbled against Euro as a result while 10 and 30 year Treasuries continued their selloff, with the former’s yield now back

32

Macro Afternoon

by Chris Becker The Santa rally continues in Asia, this time with Chinese stocks riding the sleigh as risk becomes more and more optimistic of a GOP bill passing before Christmas. Japanese stocks were a little wobbly as the Yen waned a little but overall its a positive session leading into the overnight trade. In