Greece Defaults on 30 June Payment to IMF... | US Consumer Confidence up Strongly .. | Crowd Mobile Report Attached |

Niv Dagan

Peak Asset Management

Good Morning, Greece is effectively “Bankrupt”… Never before has a country missed a loan payment to the IMF… Sure, Argentina, Venezuela and Sudan have all been in similar positions, however, the current state in Greece is much more serious… To put things into context, Greece’s economy is no larger than NSW…….. Do we really care that they can’t pay their bills and are in default? Now… If they go back to the “Drachma”, their net assets (i.e. value of their homes, cars, cash), will effectively fall by >40% instantaneously… Would you vote “No” in Saturday’s referendum?? Outside of Greece, things are good…….. Last night, US consumer confidence rose strongly and job numbers released tomorrow night, should point to a pickup in work… Stocks in focus Rio Tinto shares fell 2.9 per cent to 2614 pence at the close in London on Tuesday, the biggest one-day drop since March 5, while BHP slid 4 per cent in London. Credit Suisse has an "outperform" rating on TAH and $4.70 target price. The SPI is pointing to a 30 point fall on open…

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Niv Dagan
Niv Dagan
Executive Director
Peak Asset Management

Prior to founding PEAK Asset Management, Niv headed up HC Securities, spent three years growing Halifax Investments capital markets division and also worked on the wholesale desk at Macquarie Bank, servicing a wide range of institutional,...


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