Local market fell back into negative territory despite better commodity prices overnight. The local market has gone nowhere in the last 2 months…24 up days and 21 down days. US credit growth was weak and US credit card debt moved above pre GFC highs…patchy US consumer outlook gets another tick. Locally business confidence hit pre GFC highs...supposedly closely watched by RBA…with solid relative growth, low unemployment, asset bubbles but RBA raising rates is as likely as inflation hitting 3%...very low!!! The best performing sectors were Gold, IT and Staples while the worst performers were Utilities, Industrials and Health Care. On the sector/stock front….(1) IFL has a solid result and bounced 6% (2) SAR running on gold bounce and D&D update (3) RCG bounced on short covering and retail value bets (4) LYC running on rare earth optimism and D&D update (5) WGX on spot gold bounce and D&D update (6) CSV smacked on trading update (7) MYX gets hammered again on market update (8) NTC runs into more selling pressure (9) JHX underwhelm market expectations (10) WEB acquisition still challenging market. Macro this week…(1) Today > US Trade Balance (2) Wednesday > AUS Home Loans, AUS Westpac Consumer Confidence, CHINA CPI (3) Thursday > CHINA Aggregate Finance, UK Industrial Production, US PPI Final Demand (4) Friday > AUS RBA at House Economic Committee, US CPI. Reporting Season this week…(1) Wednesday > CAR, CBA, PFI, SKC (4) Thursday > AGL, AMP, AVN, MFG, ORA, VAH (5) Friday > REA, NAB, NWS. The areas of concern during the reporting season are (1) high currency (2) energy costs (3) commodity prices (4) interest rate cycle (5) property prices (6) rising competition (7) regulation change and (8) consumer spending!!!
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2017 - Now > Blue Ocean (AUS) > Market Portfolio Strategist 2012 - 2017> Baillieu Holst (AUS) > Head of Strategy, Quant and Data Analytics 2009 - 2012 > Bell Potter / Southern Cross (AUS) > Head of Quant and Data Analytics 2007 - 2009 > LIM...
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