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Morning sports fans,
Well, how wrong was I about a rest day yesterday…no rest for the wicked as we look to have 12 straight days of awesomeness…overseas buyers flooding our market with lots of blue tickets at the moment due to the fall in the Aussie…yield plays pushing ever higher and the markets powering towards 6000..which I think is doable now the fundamental rule book is thrown out the window..it’s the yield stupid..it’s P/E expansion…so buckle in …hold tight and enjoy the ride…it won’t be long before local investors join in too!!!
We will see 6000 in this environment…the mentality now is buy any dips at all…even the joke that is being played on us in Canberra can’t deflect the bulls…maybe as we get closer to May and the second budget…(what happened to the first one???) ..then maybe we will get some wobbles but maybe the thought of Tony going IS driving the market!!!Stranger things have happened..strange days indeed…
Today we get the RBA statement on monetary policy…should make for labyrinth like reading as the try to break the code…more confusion that the Enigma machine..where is Alan Turin when you need him!!Anyway expect more smoke and mirrors as the RBA tries to explain why the economy has fallen so far from where they thought it would be just before Xmas..can we really have banked all our economic growth on digging up Iron Ore…is this really the answer..beholden to BHP and RIO and their ambitions to produce the stuff until
Idea of the Day
How did we all go filling our petrol tankers up with $1.00 a litre Unleaded!!! It’s now $1.20…something to tell the kids though..remember when petrol was cheaper than milk…nah!
Things to make me go mmmmm!!!
Turnbull…me thinks he doth protest too much..and Pyne..what a grub!!!
The whole Canberra show…really…adults in charge ..no surprises…doing what is best for Aussie families…LOL!!!
Heard the one about a Greek Finance minister going to Germany and getting a result…no me neither…it will get messy..does anyone care
US crude futures were ahead by 7.2% to $51.92 a barrel. Libya apparently…reality is it was oversold big time and sense is returning..can’t say the same about Iron Ore but then China closes in a day or so for Lunar New Year…5 year lows for Iron Ore…talked Baltic Dry yesterday too at a level not seen since 1986!!
WTF…Denmark cuts again…there is something rotten there… official cash rate to -0.75%, the fourth reduction in the past few weeks…
Let us not forget that the currency wars that have been going on around the globe..the US has been the big beneficiary of a lower US dollar for some time..that is changing as its the only major economy looking to raise rates before the next Star Wars film at any rate…so it is rising and that is starting to crimp US exporters……thus the US trade deficit widened to $46.56b in December. Imports rose by 2.2% to $241.44b while exports slid 0.8% to $196.43b.Maybe the halcyon days for US corporates are over…Obama pretending to tighten tax laws and a rampaging US dollar..not a good combo…
The big news out of Tabcorp’s half-year result on Thursday was a $230 million special dividend that will soak up surplus franking credits..
Downer needs to change its name to Upper I think…again avoid mining services companies…it’s still not time…
Investigators of Anthem data breach are pursuing evidence that points to Chinese state-sponsored hackers who are stealing personal information from health-care companies The breach is one of the biggest thefts of medical-related customer data in U.S. history. China has said in the past that it doesn’t conduct espionage through hacking….LOL!
Payrolls from the US tonight…prepare to be underwhelmed…snow to blame…9 out of 10 Januarys are a miss!!!
RADIOSHACK FILES FOR BANKRUPTCY PROTECTION AS LOSSES MOUNT….no surprise here!!
And finally…..from anonymous!!
For an early family Christmas present, a father buys a lie detector robot that slaps people when they lie.
He tests it at dinner. The father asks his son what he did that afternoon. The son says, “I did some school work.”
The robot slaps the son. The son says, “Ok, Ok. I was at a friend’s house watching movies.”
Dad asks, “What movie did you watch?” Son says, “Toy Story.” The robot slaps the son. The son says, “Ok, Ok, we were watching porn.”
Dad says, “What? At your age I didn’t even know what porn was.” The robot slaps the father.
Mom laughs and says, “Well, he certainly is your son.” The robot slaps the mother.
Robot for sale!
Have a great weekend…