I’m writing to you from New York following a week of meetings with companies, investment banks, analysts, strategists, fund managers and executives.The timing of the trip coincided with a bout of heavy volatility breaking out on Wall Street, largely as a result of the trade dispute. It’s helpful to be... Show More
Geopolitical concerns, delays to the Trump Administration’s planned fiscal stimulus, and benign US economic and inflation data have made bond markets more relaxed and equity markets more volatile. The US 10-year Treasury bond yield has rallied from a recent peak of just over 2.6% in March to about 2.2% now.... Show More
As the world awaits the outcome of the US Presidential and Congressional elections, one important trend that has been largely overlooked during the period of election uncertainty is the return to profit growth of the US corporate sector. Show More
Equity investors have endured myriad challenges since the US stockmarket whipsaws began in August 2015. These volatile windows lined up with the US interest rate cuts and a respite in the US Dollar advance. The base case for Australian equities remains sound. An ERP of ~ 6.1% makes equities a... Show More
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According to the FT S&P 500 earnings are on track to decline by about 2.6% year-over-year, which is actually about 2% better than what analysts were expecting at the end of June. This is just a continuation of the game where consensus expectations are moved lower and lower until companies... Show More
"Apple beat the high end of its guidance, once again. In April, it had predicted that June quarter sales would fall between $46 billion and $48 billion; they reached $49.6 billion. Show More
The search-engine giant added $65 billion to its market capitalization on Friday, more than the size of Hewlett-Packard Co. “The surge, following earnings that topped analyst estimates, is the biggest one-day gain in value ever for a U.S. company, according to data compiled by S&P Dow Jones Indices. Apple Inc.... Show More
