Viewpoint: Bullish

China Evergrande is already taking a back seat to rising bond yields when it comes to worries for stocks, and especially the growth end of town i.e. Tech & Healthcare. Importantly rising bond yields are a global phenomenon which adds weight to our view that it’s a trend with much further to unfold – we are looking for US 10-year bond yields to…

The Energy Sectors is MM ‘s favourite market exposure into Christmas, interesting its historically a classic late cycle bull market play which coincides with our view towards risk assets through 2022. The local sector has finally started taking note of the recent oil price highs. We believe the majority of local oil stocks will see fresh 2021 highs into Christmas with OSH…

BHP has been well & truly walloped 32% in just 2-months, its no surprise the ASX200 has slipped from its August high, but we believe things are overcooked with the “Big Australian” as it used to be so fondly referred to on the old trading floor. Copper and oil make up around 30% of the companies revenue and things are looking solid on these fronts, the aggressive…

CWN is arguably the wild card in todays bunch and the MM Flagship Growth Portfolio as it endures the scrutinies of the regulatory microscope. We believe that CWN will eventually be operating casinos in its existing venues albeit in a far more ethical manner hence if this does prove true the stocks very cheap under $10 especially as suitors were circling…

CTD were proactive during COVID undertaking a major acquisition in 2020, we like the companies logic and believe its added some intrinsic value to the business. However with CTD already trading above its pre-pandemic levels the risk / reward is diminishing and we believe the stock is now likely to move more in step with the index.

The flying kangaroo has looked after us nicely since our mid-August purchase however although we are looking to “fade the pop” in a number of cases this is one stock which MM believes can still challenge its pre-COVID levels around 20% higher.

UK faced bank VUK has soared following its COVID plunge, we like the company and its relative valuation but feel the risk / reward is only average in the $4 region.

US bond yields are slowly recovering from their Delta Strain sell-off although there’s definitely no acceleration around the recent bounce even after the Feds hawkish FOMC meeting last week – markets are pricing in rate hikes by the Fed for late 2022, early 2023, well over a year sooner than the RBA are signalling their next move. Further rises in yields is likely…