12/10/2023 09:16

Global Markets

US stocks ended a choppy session higher overnight after the release of the latest Fed minutes showed a cautious stance amongst policymakers due to growing uncertainty around the economic outlook. These uncertainties were seen supporting “the case for proceeding carefully in determining the extent of additional policy firming that may be appropriate” – longer-dated bond yields edged lower following the statement.

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03/10/2023 09:15

Equity Indices

The ASX200 has held the psychological 7000 area for the last couple of weeks, but it struggled to maintain a meaningful recovery on the upside as the overall market doesn’t appear to be attracting fresh funds, i.e. investors are happy to switch, but the allure of cash yielding ~4.5% is keeping some money on the sidelines.

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27/09/2023 09:05

Global Markets

US indices closed weaker again last night, with the S&P500 and tech-based NASDAQ indices both closing down ~1.5%, led by Amazon.com (AMZN US), which tumbled over 4% after US regulators sued them, alleging that the internet giant is illegally maintaining monopoly power. However, it wasn’t a one-man show on the downside, with all US big tech closing lower in the session while consumer facing stocks were also weak.

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11/09/2023 08:56

Equity Indices

The ASX200 has commenced September in a very inauspicious manner, closing down -2% month to date on Friday, with most of the weakness unfolding in the 2nd half of last week in the Tech, Consumer Discretionary and Materials Sectors.

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15/08/2023 09:06

Global Markets

US stocks edged higher overnight with the tech based NASDAQ leading the way finishing up +1.2%, the heavyweights took the lead in light trading which saw yields edge up on the prospect of rates “higher for longer”. AI leader NVIDIA (NVDA) soared over 7% while only Tesla (TSLA US) slipped lower in the “magnificent seven”.

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29/05/2023 09:01

Equity Indices

The ASX200 fell away in the last full week of May making fresh 8-week lows in the process, the influential banks and resources weighed heavily on the local market. However, the moves & news of the last few days could easily see the market punch to fresh monthly highs this morning as the index rotation in the 7000-7500 area continues.

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20/07/2022 09:38

iShares Large-Cap China ETF (IZZ) $46.05

While we’ve all been focused on the recent weakness across local and US indices the fall by Chinas market has been even larger. i.e. the ASX has fallen -16% from its April high and the NASDAQ -33% from its Novemvber’21 high whereas China’s Shenzhen CSI 300 Index has fallen 37% from its early February 2021 high. In simple terms the Chinese market topped first and fell the hardest, we now believe in typical market fashion it will find a low first and rally the hardest.  

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20/07/2022 09:37

Global Macro ETF Portfolio

The MM Global Macro ETF Portfolio rallied +0.98% last week aided by strong moves in our Uranium Trust (U-U CN) +8.8% and the $A (AUDS) +3.7% while the standout drag across the portfolio came from our gold ETF (MNRS) -3.7%.

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