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Morning sports fans,

 

Get in- Buckle up…..Hang on!!!!

Another melt up with US economic numbers kicking it higher combined with some good corporate numbers from Amazon….Alibaba failed to impress though but seemed to make no difference…..The US market ended up over 200 having fallen 500 in the last few days..oil rallied…gold got whacked but not as much as silver which took a 6% and iron ore managed a small rise..our market is set to test the 5600 level…Aussie dollar getting killed as the experts predict that the RBA will bite the bullet next week and cut rates..let’s face it everyone is doing it so why not…its currency wars at ten paces..even the Danes cut again last night to protect the Kroner/Euro peg…now at 0.5% Negative from 0.35% negative rates!!!

So our market will march higher and higher as the yield trades take centre stage…CBA hit an all-time high and the bank index ,at least my down and dirty index hit 192!!!Heady days indeed.

Despite all the head winds in our economy, the overriding theme remains the hunt for yield…it is insatiable..with the only country in the entire cosmos looking at even a small rate rise in the distant future being the US ,the currency wars are in full swing..everyone wants their currency down ,their exports up ,their inflation up and their governments gone!!!!And keep the presses running flat out…since Super Mario actually did something the markets have swooned upwards..

The usual suspects are being chased by huge waves of money, probably borrowed but its money none the less…the property market shows no signs of abating either which is good for the banks and with lower interest rates and therefore lower bad debts what is not to like…and they seem to be able to issue hybrid securities at will…ANZ dipping in for another $750m and will probably get swamped at the rates they are offering compared to deposit rates..

What if everyone was buying the same shares for the same reason?How high could it go before ……..

pygar

Idea of the Day

 

Any company that has US earnings is rubbing their hands together in glee at the moment but it will make our imports more expensive and affect retailers margins..of course it will also curb our enthusiasm for all things Ebay and online shopping a little but reckon the Government will hit online purchasers hard in the budget with changes to GST thresholds.

 

Any company that consumes a lot of energy will also be pretty happy…FMG looks interesting on the turn around..maybe see $260 soon…

 

Cross the US off your list of places to go…Europe or Japan for skiing this year..

Things to make me go mmmmmm!!!

Andy Murray…and his financee!!Think she is short the market!!!

kim

Aussie dollar 77.64!!!

sums it up

Royal Dutch Shell missed profit forecasts by about 20% but kept dividends unchanged to appease shareholders and the results caused a 4% selloff in its shares.

I remember the halcyon days before money printing in the Thatcher years when inflation was the evil dragon and money supply was closely watched…well not anymore… Eurozone monetary growth accelerated at the fastest annual pace since November 2012 in December with an increase in M3 of 3.6%.I mean who cares…just print more right…

Spanish retail sales soared in December with an annual increase of 6.5%.

FMG looks like it has done a good job with driving costs down and despite the lower iron ore price the lower Aussie dollar is helping big time… Fortescue now expects its costs to average between $US28 and $US29 a tonne this financial year, compared with its earlier guidance of $US31 to $US32 per tonne…..maybe this one has turned the corner..lots of shorts too so could move hard and fast towards the 280 level…

Will VET ever come back…looks increasingly wobbly!!

Shell has slashed its three year budget by $15bn!!!

“Timidity” on the part of policymakers has cost the eurozone in the aftermath of the financial crisis, Mark Carney, Governor of the Bank of England, said on Wednesday.

“It will take the euro area eight years to achieve the recovery that Canada secured in two.”

Maccas global head has fallen on his pattie and a UK former head of Pizza Express has become the chief burger flipper after not so flash earnings numbers…too many choices and so no longer fast food at all..back to basics I think..

Rare indeed with Newcrest Mining increasing its full-year production guidance, as the falling Australian dollar delivers.

News on Friday that its average gold price – in Australian dollars – achieved in the December half jumped to $1,398 an ounce. Newcrest increased full-year production guidance by 100,000 ounces to between 2.3 million and 2.5 million ounces.

Hers a conundrum, why would you cast Johnny Depp as a English eccentric in a movie…really? And remake Ghostbusters…the horror!!

 

Global shipping rates drop to lowest level since 1986!!!! 632!!! 5% today!!!

baltic dry

And finally…..

I received a phone call from a gorgeous ex-girlfriend who this morning called ‘out-of-the-blue’ to see if I was still around. We lost track of time, chatting about the wild, romantic times we used to enjoy together.

I couldn’t believe it when she asked if I’d be interested in meeting up and rekindling a little of that “old magic”.

“Wow!” I was flabbergasted.

“I don’t know if I could keep pace with you now”, I said, “I’m a bit older and a bit greyer and balder than when you last saw me. Plus I don’t really have the energy I used to have.”

She just giggled and said she was sure I would “rise to the challenge”.

“Yeah.” I said. “Just so long as you don’t mind a waistline that’s a few inches wider these days! Not to mention my total lack of muscle tone…everything is sagging, my teeth are a bit yellowed and I am developing jowls like a Great Dane!”

She laughed and told me to stop being so silly. She teased me saying that tubby, gray-haired, older men were cute, and she was sure I would still be a great lover. Anyway, she giggled and said, “I’ve put on a few pounds myself!”

So I told her to get lost!

Have a great Weekend

Clarence

XXX

Get a Global take on things at www.ntmarkets.com

 

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