Month: January 2017
The local ASX200 has now fallen almost 4% over the last 3-weeks while US stocks continue to tread water. Having locked in some nice profits during the markets explosive rally after the US election we are now back in “buy mode” into current weakness. The ASX200’s correction has primarily been focused in the financial sector where investors appear to have locked in some profits while the resources have held up reasonably well courtesy of a pullback in the $US which supports underlying commodity prices – we have played this scenario via our purchase in Newcrest Mining (NCM).
Following the “Market Matters 2017 Outlook piece” on Sunday this morning to keep subscribers fingers on the pulse we have updated how we see markets over coming weeks / months plus answered some very pertinent / tough questions we received from subscribers last week, as we always say, ” keep the questions coming however hard!”
There has been a clear trend evolving over recent months which is whenever Janet Yellen (Chairwoman of the US Fed) speaks, she is clearly hawkish and it leads to support for the $US and weakness in the “yield play” sector of stocks. Investors should not forget that interest rates are at artificially low levels, after years of financial engineering by central banks to avoid a deep global recession / depression after the GFC. As interest rates rise, it simply offers an alternative to stocks for investors seeking some yield for income which has not been available for many years.
Really bullish, there's more to go in the reflation rally
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