Morning sports fans,
I am a simple man..some would say too simple but news from the US last night that their economy contracted in the first quarter by 1% apparently was fantastic news….really? So fantastic that some of the masters of the universe have upped their growth forecast for the US economy…they reason that it means some stunning growth to come…of course they all blame the weather for the awful GDP..why wouldn’t you..70% of US economy is consumer spending!!No wonder they are the most Obese nation in the World…
My Sell in May call hasn’t really happened I have to say..not that it has matched the US with records falling everyday..on low volume…so as we limp towards the end of May..and I do mean limp, it looks like an up day to close out the month…we are currently up 30 points for the month and expect today to make it 50..not too bad considering the banks are ex div…of course it’s the banks and TLS that are driving us higher…big question is can it last…or maybe is it safe? thanks Boys from Brazil..
After yesterday’s horrid capex numbers there are a few economists (ex weathermen I expect) that are looking in the tea leaves and seeing a chance of a rate cut….ok, only 4% but it’s a chance…personally I think rates are on hold for a long time to come…we will still be here in May 2015 as a worsening economy is balanced by the overheated property market..sounds like a stunning recipe for success…consumer sentiment is shocking and the Senate fiasco to come….
Ukraine getting worse but still gold going nowhere!!Conspiracy perhaps…
Idea of the Day-LYC getting dumped this morning as the profit takers hit them..get in there Mortimer and Buy
Sometimes you open an oyster and you find a pearl sometimes just sand!!
Apologies for all the recommendations that are sand!
You have to kiss a lot of frogs I guess !!!
Things to make me go mmmmmm!!!
Swans 148 cats 38 just saying Richard..if you are reading this in Canberra!!!
Warnie has a new girlfriend Emily Scott…
Westfield’s Lowy family not getting their own waay…waaaaaaa!!!
All economies are trying to get inflation back..Japan has a solution…just increase the sales tax…inflation now rising fastest since 91!!3.2% ..you listening Super Mario…it’s that easy!!
LYC back today…SPP and Placement oversubscribed at 11.3 cents…
The AFP is investigating 8000 people that voted for our pollies multiple times…why would you vote once for these clowns let alone more!!Whichever party you voted for…
Aussie ten year bonds are yielding 3.665 per cent. Ten years in the US are 2.4%.
Not a good week to be French as the US Justice dept have hit BNP with a $10bn hit to resolve a criminal probe into sanction busting with Iran..no wonder the European banks are lending to anyone..they are too busy paying fines to the US!!!Great way to finance banking bailouts of local banks though..Go team Uncle Sam !!
In a move sure to really pee off Gina ..FXJ have appointed Todd ‘Gruen’ Sampson to the board…maybe he will have to swop his t shirt for a collar!!
It’s starting to look a little like Britain in the 80’s with coal companies sacking more miners now than even Maggie did…No Hope coal has joined the list as did Wollongong Coal with 152 jobs to go..US shale and weakening demand out of China..get used to it!!
CHINESE giant Baosteel has been given the green light by ¬Australia’s Foreign Investment Review Board to progress its $1.4 billion bid for Aquila Resources. Baosteel teamed up with Brisbane-based freight giant Aurizon earlier this month to launch a $3.40-a-share offer for the iron ore and coal-focused company.
In his latest book Prof. Ken Rogoff’s ‘This Time is Different: Eight Centuries of Financial Folly..he is proposing that cash should be banned…this is the guy whose work on the trigger points of the amount of government debt caused some of the Zombieland woes..of course his spreadsheets were a little out but none the less…and why does he suggest banning cash..stops crime,drug deals,money laundering and best of all will allow Central banks to go to zero interest rates!!!
The U.S. economy contracted for the first time in three years from January through March as companies added to inventories at a slower pace and curtailed investment. Gross domestic product fell at a 1 percent annualized rate in the first quarter, a bigger decline than projected, after a previously reported 0.1 percent gain, the Commerce Department said.
Thanks to Andrew for this one…
So what is the perfect time to buy a huge wad of S&P Minis futures contracts… $1bn worth of S&P 500 futures (10k contracts) in 1 second (and $1.8 billion in that minute)..why 2.36 of course..and off we go to the races in the US!!Everything up..
In M and A activity Tyson made a $6.8 billion offer to buy Hillshire brands. Hillshire shares gained 18% and Tyson Foods shares rose by 6.1%.
Former Microsoft CEO To Buy Clippers For $2 Billion: 2nd Highest Price Paid For Any US Sport Team Ever..HE WANTED TO BUY HIS SON A COWBOY OUTFIT..best he could do!
Wages will inevitably fall in rich countries like Australia, the United States and United Kingdom as the world moves toward economic equilibrium, according to Nobel laureate, Professor James Mirrlees.
And finally …its Friday people..what’s not to like….
A circus owner ran an ad for a lion tamer and two people show up.
One is a retired golfer in his late sixties and the other is a gorgeous blond in her mid-twenties.
The circus owner tells them, “I’m not going to sugar coat it. This is one ferocious lion. He ate my last tamer so you two had better be good or you’re history. Here’s your equipment — chair, a whip and a gun. Who wants to try out first?”
The girl says, “I’ll go first.” She walks past the chair, the whip and the gun and steps right into the lion’s cage. The lion starts to snarl and pant and begins to charge her. About halfway there, she throws open her coat revealing her beautiful naked body. The lion stops dead in his tracks, sheepishly crawls up to her and starts licking her feet and ankles. He continues to lick and kiss her entire body for several minutes and then rests his head at her feet.
The circus owner’s jaw is on the floor. He says, “I’ve never seen a display like that in my life.” He then turns to the retired golfer and asks, “Can you top that?”
The tough old golfer replies, “No problem, just get that lion out of there.”
Have a great weekend and enjoy Vivid..back on Sky Biz at 5.30 this evening for words of wisdom..