Archives: Reports
A weaker open was implied by SPI Futures, though an easing in time frames by President Trump towards the EU following a ‘nice talk’ between the two saw US equity futures rally, dragging our market with them. Uranium stocks the place to be today, and while news broke during our trading session on Friday (about Trumps executive orders to fast track Nuclear), the moves were undercooked, so, some further upside played out today. We think this is a material change in ‘vibe’ towards the sector that could be the catalyst to see the term contracting market fire back up.
From the US to Japan, long-term borrowing costs for the world’s biggest economies are surging as investors question governments’ ability to cover massive budget deficits.
The ASX 200 ended the week up 2.47% courtesy of the widely anticipated RBA rate cut and Michele Bullock’s not-so-widely-expected dovish rhetoric. Credit markets are now looking for an additional three rate cuts by Christmas or February’26 at the latest. Not surprisingly, the rate-sensitive names led the advance, with tech, real estate, and financial stocks adding the most points to the index, riding the RBA wave of optimism, although there were plenty of losers on the stock level, as the macro and economic news kept on flowing.
A relatively quiet session played out on the ASX today after flat U.S markets overnight and mild Futures this morning with limited news on the corporate front providing limited direction for the local bourse
The ASX 200 retreated on Thursday following a bond-induced weak session on Wall Street; the Dow ultimately closed down over 800 points. However, while the local bond market remains buoyant, following the dovish RBA commentary earlier in the week, with three cuts expected before Christmas, it wasn’t enough to support a market with over 60% of the main board closing lower.
A weaker session for the ASX, though a drop of 0.45% relative to the 1.6% decline on Wall Street shows good relative performance, which has been an ongoing theme in recent months. Gold stocks did well again while there was some sporadic corporate news flow that impacted individual names, but not a lot of top tier news flow today.
The ASX 200 extended May’s advance to +3.2%, taking the index within striking distance of its February all-time high. However, although the market finished up 0.5%, gains were far from broad-based, with over 45% of the ASX200 closing lower.
The ASX hit a new 3-month high today on residual optimism from yesterdays more dovish RBA rhetoric. The majority of stocks rallied, banks pushed up again and we saw a number of corporates provide solid updates, though not all were rosy. The backdrop for Australian equities has certainly improved in the last month, and it just seems a matter of time before we’re writing about new all-time highs at the index level.
We are making changes across two portfolios.
The ASX200 advanced +0.6% on Tuesday following the 0.25% rate cut by the RBA and a far more dovish outlook from Michele Bullock. Bond yields plunged on commentary about inflation, now within the RBA target band both in terms of the headline rate and the trimmed mean, with RBA forecasts expecting it to stay that way.
