US Market "Fights Back"... | TLS Result: In Focus... | PBOC Intervenes To Support The Yuan |

Niv Dagan

Peak Asset Management

Good Morning, What a night we had last night… Leaving the office, Dow Jones Futures were down 180 points… The Americans didn’t give up, to close largely “flat”… SP500 actually finished in the positive. A 250 point turn-round from the bottom… Here in Oz, we certainly need some “fight”, following one of the worst week’s we’ve seen on markets since 2011… The XJO is now >10% below its 6,000 “Peak”, only back in April… Sure, the devaluation of the Chinese yuan is negative for Australian exporters (BHP, FMG, RIO are all feeling the pain)… However, in a bold move, The People Bank of China (PBOC) intervened in the market and supported the currency … Let’s hope TLS result today can surprise to the upside and give the market a “much-needed” boost to confidence… So What's on today? Results from Telstra, News Corp, Fairfax Media, Mirvac, Crown, Tabcorp Australia average weekly earnings The SPI is pointing to a 12 point rise this morning


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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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