Archives: Reports
An aggressive bounce back today for local stocks with the ASX 200 ripping +2.19% higher recouping all of yesterday’s declines and some. Stocks opened higher, sold off fairly hard then spend the rest of the session rallying with the buying broad based. We wrote this morning that significant market crashes occur for a reason, whether it’s a credit event like the GFC via subprime loans or a global pandemic that forces an economic shutdown, for now, in MM’s…
MM are making some changes to the portfolio today to increase the quality of companies we are exposed to.
We are trimming our large BHP position back from 9% to 6%, cutting both of QBE Insurance (QBE) & NRW Holdings (NWH) for loss as we see better risk adjusted returns buying Aristocrat (ALL), Macquarie Group (MQG) and adding to our existing position in Goodman Group (GMG).
Equities have been hammered over the last 2-weeks as concerns that higher inflation is set to spark rate hikes across the globe gathered momentum and understandably / logically the high valuation growth names have borne the brunt of the selling. Thursday saw a 4% intra-day bearish turnaround as margin selling appeared to roll through the market after 11am, a short-term panic style bottom feels close at hand, or even in, and we should remember that seasonally buying a January pullback and holding into early Q2 has a great historical track record. I recently read an article by Shane Oliver…
A rollercoaster ride for the ASX today, to trade in a huge 284pt/4.1% range, falling to levels not since April 1st last year. With the latest tumble the fall from the 5th of January high of 7620 extended to 862pts/-11.3%. Growth sectors were the shining light early on, before becoming the main drags in the afternoon as the market rolled over – unsurprising given the headlines of higher inflation and higher rates driving markets. Aussie 10-year…
International Equities Portfolio: Selling BHP in London only, and buying Alphabet (GOOGL US)
Macro ETF Portfolio: Adding to ACDC
Tuesday saw the ASX200 get savaged following a poor night on Wall Street and nerves ahead of the Feds pending interest rate decision, not to mention the market being closed for Australia Day creating the perfect storm for traders to have zero risk appetite. Its old news as we brace for this morning’s trade but less than 5% of the market managed to advance in the last session as we witnessed unrelenting broad-based selling wash through stocks, firstly lets quickly just evaluate what happened:
A tough day for the ASX with a negative lead from the futures market putting pressure on stocks early before a hotter than expected inflation read at 11.30am saw bond yields up, the Aussie Dollar up just after the release (although it tapered off later on) and stocks down on the expectation of tighter monetary policy from the RBA. Throw in a public holiday tomorrow, weakness again in US futures during our time zone after what was a very…
Many investors watched yesterday’s market with a large degree of trepidation and while the ASX200 bounced from its early morning lows it was definitely not a convincing recovery with the index still closing down 0.5%, making new 8-months lows and with only 32% of stocks managing to close in positive territory. While the aggressive selling witnessed on Friday wasn’t evident the underlying “risk off” theme continued as quality and defensive names were in demand across many sectors:
The ASX opened on the backfoot this morning hitting a low of 7086 / down -89 points on the ASX 200 shortly after open following weakness in the US on Friday, however the buy the dip mentality emerged and we saw the market bounce +53points to end the session down -0.50%. US Futures helped the move with the S&P eminis up +0.80% during our time zone. At the sector level it was classic risk off with the defensives doing well, Real-Estate the main support followed by the supermarkets while IT stocks…
MM had been anticipating a very volatile 2022 for financial markets but its arrived faster than we expected, we’re only 3-weeks into January and the markets have already delivered some major swings:
