Morning sports fans,
Here we are waiting for Super Mario to deliver..last nights’ Zombie inflation number was pretty anaemic so he needs to do something and I suspect it will not be enough…Zombieland unemployment is massive still ..in some countries its 25% still..growth is non-existent and so is inflation..now one of the region’s largest BNP looks like it is going to be hit with a $10bn fine..that will sure affect lending practices…I wonder if anyone has tallied what the US banks have been fined compared to others…reckon there is a bias ..anyway cutting interest rates to sub-zero is not going to do the trick..they need to pump up the housing market just like the UK with their Help to buy and other schemes..nothing stirs the cockles of a punters heart more than a rising and fast rising at that property market..
Still we have our own issues here…GDP number today….expect the RBA had a peek in the envelope before the decision to hold rates unchanged again …I see no change in rates for a very long time and then it will be up…
So after yesterday’s rout expect a modest relief rally today..5 points maybe!!! It’s tough at the moment recommending buying stuff that is so stretched on valuations….I know everybody is buying the same things..it’s hard not too…I compared the market at the moment to everyone chasing the pretty girls ..they are so popular and deservedly so..they are pretty after all..but everyone chasing them is never a good thing as they get arrogant and bitchy! And of course when they fall out of love Hell hath no fury like a lover scorned..look at all the ones that disappoint ..OFX recently springs to mind..its a long way back..
Idea of the Day
Happy to sit out at the moment..just feels too calm..everyone is so complacent, it worries me..
Just saw this from Bloomberg…implications for LYC… “The toxic time bomb set by China’s rare earths mining boom is set to boost the prospects for some of the $12 billion of projects being developed outside the world’s biggest supplier.
As part of its pollution clean-up, China, which controls 90 percent of the global market, is studying the introduction of new taxes and regulations for rare earths in the June half that are forecast to drive prices higher.”
Things to make me go mmmmmm!!
Seems weird that as the US withdraws the stimulus rug,Japan who has an economy in real trouble with teir debt and deficit emergency is running flat out towards the cliff and now Super Mario is revving up the debt and deficit car for a run at the Grand Canyon!!
Fluent in Swedish now..The Bridge!!Brilliant!
GDP numbers today expected to be around 0.9% and a 3.2 per cent rate year-on-year
Another bid for Australand…it’s on..a great big bidding war…Singapore group bidding $4.48 cash!!
Isn’t DJs looking interesting…done deal no more..
Fonterra Whole milk powder prices tumble 8.5%, decline for 8th straight auction.
Do you know what I’m thinking B1…. B2Gold signs merger pact with Papilion Gold in West Africa..light at the end of the tunnel perhaps? Butterfly catchers to get 0.661 B2Gold shrs for each PIR shr.
REA Group (REA) Names Owen Wilson CFO…odd choice…he was bloody good in Wedding Crashes though!
Bitcons have had a bit of a rally following comments that Apple is looking at accepting approved digital currencies!!
Bodies of 800 children, long-dead, found in septic tank at former Irish home for unwed mothers.
“The level of corporate activity within the sector is reaching levels not observed for decades”
David Bramhill, executive chairman of UK energy minnow Union Jack Oil talking about Shale gas.
A bloke walks into a Glasgow library and says to the prim librarian,
‘Excuse me Miss, dey ye hiv any books on suicide?’
To which she stops doing her tasks, looks at him over the top of her
glasses and says, ‘Fook off, ye’ll no bring it back!’
Have a great day
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