With the election out of the way and Labor's more disruptive reforms defeated, market sentiment has clearly taken a turn for the better. Looking ahead, the most likely scenario is that the domestic and global economy will find ways to grind higher, although the likely pace of business activity now... Show More

Equities have continued to recover from their sell-off late last year; income-oriented asset classes like property and infrastructure have been in strong demand and this will likely be prolonged as rate cuts are increasingly priced in.Looking ahead, the most likely scenario is that the global economy will find ways to... Show More

2019 has started on a bright note with the ASX 200 closing out the March quarter up 9.5%, the best quarter since September 2009. The sharp bounce has left many wondering where to from here. Our short-term view reflects a more cautious outlook as we think the upside has been priced... Show More

February results were broadly in-line despite ongoing systemic risks (housing slowdown, weak consumer, intensifying regulatory and political risk). Capital management upside was dominated by Resources, while Industrials appear to be holding back some dry powder given their challenging outlook, themes we recently discussed in this wire. Show More

February results were broadly in-line despite ongoing systemic risks such as a housing slowdown, weak consumer, intensifying regulatory and political risk. February's rally suggests investors had feared an escalation of these, and the lack of any significant "new issues" for Corporates certainly added fuel to the relief rally. Show More

A rather unpleasant end to 2018 saw the S&P/ASX 200 index down 9% over the final quarter. Tactically it has been a blessing in disguise for investors at the start of the year. Valuations have de-rated sharply on the back of a multitude of macro-economic scares and have left the... Show More

Volatility has returned with vigour over the past two months, with the ASX200 posting its third straight negative month in November. While we don't subscribe to the view that equity markets are heading into a deep bear market, macro events will determine market direction in coming weeks. With global growth... Show More

We have spoken about market abnormalities and the risk of fresh volatility for some time. Overall we think current weakness will prove to be another 'reality check' for a market that had run a little ahead of itself, rather than a precursor to something more serious. The increased volatility in... Show More

The ASX 200 Accumulation index returned a respectable 15.4% at the close of reporting season, and is poised to return a similar amount over the next 12 months if all goes to plan. Factset consensus forecasts anticipate another year of 7.2% earnings growth at a dividend yield of 4.6% which... Show More

In our reporting season preview, we noted that the spread in consensus forecasts was very narrow and the potential for beats and misses versus market expectations was lower than normal. It is this dynamic that foreshadowed many of the results across our coverage universe, where results were mostly in line... Show More