The big news yesterday was the New Zealand government revealing a budget with a $50 billion covid-19 recovery fund to soften, but not prevent, the coming recession. Construction ($5bn on housing) and infrastructure (another $3bn for projects) are the se
In an extremely unusual move, National Australia Bank has reported its results to the ASX almost a fortnight early as it seeks an extra $3.5 billion of investment from shareholders. The bank reported a -51% slump in half-year profit to $1.3bn yesterday
We think it is time to start “averaging into” stocks, as it appears the market is starting to now differentiate between the stocks and sectors which will face major problems for an extended period and those which are relatively immune.
Global markets went into free-fall overnight with the US market down -9.5%, the worst one day performance since Wall Street’s “Black Monday” crash of 1987.
Markets ended 2019 in a festive mood, and the positive trend has continued to start 2020, with equity markets powering to fresh all-time highs.
Global markets were slightly higher on Friday as the US and China appear to have agreed on a trade truce.
The Reserve Bank of Australia kept the cash rate at 0.75% yesterday, with governor Philip Lowe saying the economy had passed a gentle turning point and that the board wanted more time to see how the current low rates played out.
Heading into the end of the year, a Xmas period rally in shares could be possible. While we would not want to attempt to read Trump’s mind, we note it is worth keeping in mind President Trump is looking to win an election next year.
ANZ shares took a hit yesterday on the back of weaker than expected full year earnings.
While it is still early, so far company earnings announcements overseas have generally beaten a low bar.
