One more week til we wake up Sunday morning and Tony is our new PM….it will be a landslide I am afraid and the only Labour person remotely happy will be Jules. Our market will be pretty quiet today with a US holiday today ,plus we have the RBA tomorrow and the election to get through. Unlikely that the RBA will change anything ,let’s face it it’s not really working for confidence. The only things it is doing to pushing up house prices and keeping the dollar under control..Trouble is the lower dollar has come too little too late…hopefully though things will pick up after the Coalition romp home…the biggest downside is having to see the smug look on Christopher Pyne’s face…Good news over the weekend on China as their economy looks to have stabilised …BUT gold down ,iron ore down, Oil down and other commodities easier too won’t help our cause today.
Expect a quiet down day today as a bit of the gloss is taken off the market..but at least Obama hasn’t struck Syria yet so that’s good..lots of ex dividends as well today will knock some points off too.
Idea of the Day
Still feel the risks are increasing as we head into spring/Autumn in the Northern Hemisphere..the US big wigs get back from holiday and the prospect of Tapering now looms large..I suspect that Uncle Ben will want to get it under before he leaves for Academia even if it’s pretty modest..maybe instead of $85bn a month on bond purchases he will drop it by 10bn or so…at least a start and easy to ratchet it back up if he needs to…
On any push towards 5150 5200 I would look at some protection from PUT options..I believe that the feel good of an Abbott win is well and truly priced in!!
Thinks to make me good mmmmm!
US looks like it’s on its own against Syria as the French start to back out too…Obama is set to put it to Congress which is line ball I suspect…let’s face it he really wants to use all those snazzy missile and other toys he has got…not sure where he goes if the Congress says no.We now have the “coalition of the unwilling”..Sorry Mr President …
Unfortunately the public is now pretty jaded and cynical on the reasons to start hostilities..
So if we were to pit Obama against Putin on Syria ..who looks the scariest?
China’s economy is strengthening after a two-quarter slowdown, with a manufacturing gauge rising to a 16-month high in August as new orders jumped and overseas demand rebounded.
The Purchasing Managers’ Index was at 51.0, the National Bureau of Statistics and China Federation of Logistics and Purchasing said yesterday in Beijing.
David Frost dies over the weekend. Very sad.. Gareth Bale becomes the most expensive signing in Football History..$150m!!!!To Real Madrid..more than the entire Spanish GDP!
Syria has called for a pre-emptive response to the US declaring war…sounds a bit like an oxymoron..pre emotive response?
India’s economy continues to slowdown according to the latest government figures.For the April-to-June quarter, it grew at a rate of 4.4%, compared with the same period in the previous year.It was a weaker performance than most economists had been expecting and was a slowdown from the first three months of the year, when growth was 4.8%.
Brazil’s economy grew by 3.3% year-on-year in the second quarter, according to official new state figures.The Instituto Brasileiro de Geografia e Estatistica (IBGE) also said that the economy grew by 1.5% in the quarter from the previous one.
Macquarie Group has stepped up its aggressive home loan grab, with the bank growing its origination volumes by more than fivefold since July 2010 as it prepares to launch its first mortgage-backed bond issue of the year. The bank’s inroads into the market come as the latest monthly banking statistics showed demand for investment properties was propping up otherwise weak credit growth.
AJ Lucas has rounded out a horror season for mining contractor results with a record $126.9 million loss and revenue collapsing as resource companies shunned doing business with the financially strained group. The Brisbane-based company said, however, that it had completed a recapitalisation, including raising $200.8m before and after balance date, to pay down borrowings and that it had extended the maturity on its loan from Kerogen, the Hong Kong-based private equity group that owns 49 per cent of the company
Last night I was sitting on the sofa watching TV when I heard my wife’s voice from the kitchen,
‘What do you feel like for dinner my love …… chicken, beef or lamb?’
I said, ‘Chicken, please.’
She replied, ‘You’re having soup you fat b**tard, I was talking to the cat!’
Have a great Monday
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