XJO Falls Again as Banks Weigh.... | Peak's Call... Australia won't lose its AAA rating | Expect a Bounce From Here as Opportunities Open Up... |

Niv Dagan

Peak Asset Management

Good Afternoon, So the ASX has fallen ~ 190 points in two days….. That’s a large fall…… On what? US interest rates will not rise soon… that’s good, right? The USD has been under pressure of late, driving commodities higher… another positive… Sure, our friends at Goldmans advised that Australia “could” lose its AAA credit rating……. We think doubtful as we’ve held this for over 20 years and the economy is still growing! From our end, the ASX has found support at 5,750 (see chart below) and we expect a bounce…. Tomorrow! So why did we fall today? The broad sell-off extended to a third session on Thursday, as investors continued to dump bank stocks amid a souring global mood and a reversal of the rally in the iron ore price. The major banks once again felt the most pain amid lingering uncertainty about the Reserve Bank's future course on interest rates. Here's hoping for a good end to the week, Niv

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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