Morning Report Tuesday 15 July 2014
Time to review the "yield play" stocks as markets remain firm
Last night global equities rallied as Citigroup announced better than expected earnings, lifting the stock 3%. Interestingly Coles (subsidiary of Wesfarmers) has unveiled its plan to take on the “Big Four” banks in personal loans, this is a trend that I believe will continue as companies, both domestic and offshore, admire the massive profits the local banks are generating. This is a longer term phenomenon that will likely make the local banks work just a little harder to keep making multi-billion dollar profits. I have been out of the yield chase for a while now looking to take advantage of a decent correction to generate a buying opportunity, this has not eventuated but alternatively, a number of the stocks are well under recent highs:
Show more...
