The two themes that just kept coming up this week

The global advertising market has $700 billion to spend and it is being digitally disrupted. With more and more content being consumed through Facebook and YouTube the ad spend is following and the above content aggregation duopoly are quickly coming to get TV’s 40% slice. Nick Griffin explained (VIEW LINK) just how quickly spends are being reallocated and Roger Montgomery’s assessment of Ten Network Holdings (VIEW LINK) highlighted the effects of this spend reallocation on the domestic TV market. The AUD has fallen approximately 30% in 2015. It may face further downside pressure if you believe Yellen, with the Aussie/US rate differential set to widen (possibly in September and probably by December). Falling commodity prices are adding to fuel to the AUD bears fire, one such medium term bear is Paul Moore (VIEW LINK) who highlighted potential risks of a capitulation to 50 cents. So for all the AUD bears Livewire asked Roger Montgomery and Ben Clark about some USD earners in the weeks Buy Hold Sell (VIEW LINK). Naos thinks the tourism sector will get a lift from the weak AUD (VIEW LINK).