Local market ran into a surprise smashing with every sector in the red. US market risk with VIX jumping 20% intraday and Tech selloff spooked the market…while Japanese inflation proved that the low inflation outlook is a global problem. July count sits at 10 up days and 10 down days…in... Show More
Market pulled back slightly as global sentiment remains weak after running ahead of the fundamentals. US Fed has set the path to end cheap debt while every other central bank is on hold indefinitely. The stronger the yields, the strong the USD, the more pressure on Emerging Markets to raise... Show More
Market followed the weak global positive sentiment after ECB decided to trim QE magnitude per month while stretching out the period to the end of 2017. As we always say… “Self Interest”, for lack of a better word, is a good leading indicator. ECB delivered as we expected...not substantially expand... Show More
Market fell hard to pretty much unwind all the gains from yesterday’s big bounce ahead of EU break up worries. The US president elect is moving back into reality star mode and threatened US corporates with tariffs to keep them from moving jobs outside US. The reality is that the... Show More
Market bounced hard today on the back of OPEC deal. The market has been seeing a big portfolio transition over the last few days…smells like global transition portfolios are going through…they have been adding exposure to Banks and Resources. There was a lot of short covering in some of the... Show More
Market remains in the land of aimlessness with profit taking the most likely result as EU breakup worries start to take center stage. Market continues to struggle with historically high commodity prices with historically high USD while US rates are going up and US volatility is going down….something has to... Show More
Market is flip-flopping between aimlessness and profit taking mode ahead of the EU breakup worries and US Fed raising rates. Market continues to struggle with historically high commodity prices with historically high USD while US rates are going up and US volatility is going down….something has to give and that... Show More
Market is back in profit taking mode as we run into the last two weeks before US Fed raising rates while Italian referendum and Austrian presidential election sets the scene for EU breakup. We have historically high commodity prices with historically high USD while US rates are going up and... Show More
Market jumped higher on the back of US market bounce while overall macro concerns remain. There were clear signs that short covering popped the market from the open before rising tide raised all sectors into positive territory. Global macro remains uncertain with new US leadership policy settings delivering contradictory and... Show More
Market continues to remain aimless and volatile while delivering a slight negative day. Global macro remains uncertain with new US leadership policy settings delivering contradictory and murky outlook. US market continues to ignore fiscal policy uncertainty, rising yields, stretched valuations and strong currency. Over the last 3 months nearly 50%... Show More
Market continues to pop up and down while sentiment remains directionless. Global macro remains uncertain with new US leadership policy settings still murky. Local economic data on labour market shows underemployment remains a big issue while the extra few hours worked moved big numbers of jobs switched from part time... Show More
Market fell from the open on global macro uncertainty before making a recovery to half the losses. The rising yields, historical high USD and relatively low volatility indices are pointing to high risk of profit taking driven by the US market. The global markets are likely to remain volatile and... Show More
Market fell as the sentiment turned negative with waning US election optimism before an afternoon rally reduced the losses for the day. Get used to higher volatility…..it is going to be with us atleast till the early part of 2017. The trend around the world in regards to cutting corporate... Show More
Market started on holding pattern and then the pain was unleashed as the votes started to pile up against what the market was pricing in. We are likely to see a few days of panic while the market settles down. We don’t see this being a prolonged negative for the... Show More
Market popped up on the open with US positive sentiment and then traded sideways and choppy for the rest of the day. There is a bit of macro data out today….China data were solid while Canadian rates update, UK unemployment, US housing starts, US Fed beige book and the third... Show More
Market closed slightly positive on a volatile choppy day. We have a few Fed speeches to come tomorrow while the last one calmed the market on rate rise speed. FOMC minutes to come out tomorrow night while US reporting season also kicks off tonight with Alcoa. US market likely to... Show More
Market fell on the open with uncertain central bank outlook before trading sideways and choppy for the rest of the day. US job data tonight will be key catalyst short term. We remain of the view that we should see some economic weakness into the election while US Fed will... Show More
Market fell on the open with global markets and then made a slight recovery before trading sideways for most of the second half of the day. We see the worries are overblown and the market will work through these short term panic selloffs. Despite the panic today, the local market... Show More
Market started negative before staging a big recovery to positive territory was deflated by the RBA non-action in the afternoon. RBA was never going to cut rates today and the market is back looking at quality value yields. The local market is now eyeing 3rd straight positive week and we... Show More
Global markets are looking at US Presidential election and Italian referendum as the next key risk catalysts. Central banks are running out of ammunition and are being forced into even more complex and creative ways to drive asset bubbles. Central banks are becoming the new global reality stars for the... Show More
