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Morning sports fans,

 

Gold down a smidge, Eurotrash down, Iron Ore down, Oil up and drifting as the US focusses on corporate earnings..

Aussie on a tear at 78 cents! Rate Cut, NOT!

 

Bit of a question for you all…has the world gone completely mad???  German bond yields fell with the ten year bund at a low of 0.072%!!!!!!!!No wonder our banks and TLS look so attractive…

A bit of backing and filling to finish the week as the Iron Ore battles continue to dominate the headlines..BHP and RIO are on the verge of being called ‘Un-Australian’ as commentators and pollies come out swinging on their ‘dig it til they hurt’ policy…Fortescue once again joined the fray with comments about how it is destroying communities out there in the same breath as they announced production increases!!!WA Govt is not best friends anymore with BHP /RIO either, as their tax take evaporates…now usually when you have an income stream you look to use that to diversify away from reliance on one commodity…well doesn’t seem like they read that part of the manual…

A positive day on the market with the big news from Canberra that only 6.1% of the workforce are unemployed …great news and surprised the talking heads..I was going for around 6.3/6.4 as I can guess as badly as any of the overpaid economists out there…6.1% I reckon takes the rate cut in May, well and truly off the table…especially given that it is butting up against a giveaway budget…why do we need a cut if the government is going to play Good Cop this year after last years’ disastrous foray into the Bad Cop space!!

  good cop  

 

 

Idea of the Day-SUN

 

I was asked by a client yesterday to recommend high yielding ASX100 stocks with growth potential…tricky one as the usual suspects are the core of SMSF portfolios everywhere…I came up with a couple…SUN sticks out a little…has lagged the rest of the banks and has a new man at the helm. The market has taken the change in leadership in its stride and no doubt Michael Cameron has done a great job at GPT and is not going to rock the boat too much at SUN..fair to say it has bounced a bit already but more to go I expect..here’s a chart of the relative performance of this one..and my property loving mates are buying units on Goldies eh and BrisVegas to benefit from the expected bounce.

 sun

And on the plus side…5.5% fully franked…give to me baby, ah hah ah hah!!

Things to make me go mmmmmm!!!

 

In Nine Entertainment , Oaktree sells 72.4 million shares at A$2.215/share.

Telstra is hiring and training doctors while releasing new e-health products as it prepares to launch its own medical service ReadyCare by July 1, 2015.

Yesterday was ANZ’s turn to be in the spotlight over their financial planning operations as they copped a $30m fine for charging clients for non-advice!!Nice work guys!!!

High profile economist, Paul Bloxham from HSBC suggested that the property market was fully priced..I  know Paul a little and he is a terrific guy and one of the few good economists out there, hence people listen…so listen people he may be on to something!!!!Sydney house prices are up 12% this year…not sure mine is but there you go…he is even calling for rate rises next year with economic activity to grow in 2016 to 3%…rate rises people!!!You reckon!!!

Gotta love the Indonesian government..they are happy to execute two Australians amongst others but then they try their diplomatic best to get two of their citizens from being beheaded in Saudi Arabia…really pretty hypocritical to say the least…plus good to have an ally in the Mid-East that beheads people!!!And one that pumps oil like Billio!!

Christine Lagarde from the IMF has said that an advanced nation has never missed a debt payment…the advanced nation she is talking about is Greece…I know..advanced? But feel this is pretty dumb they pay the interest then they get another batch of loans..to pay more interest…this cannot end well surely…some people who are too bright suggest there is 40% chance of exit for Greece..maybe Groucho had the right idea..

groucho

“Please accept my resignation. I don’t care to belong to any club that will have me as a member”.

 

US jobs numbers with Weekly initial jobless claims at 294,000, above expectations and slightly higher than the prior week.

Netflix surged more than 15% to a new all-time high after reporting earnings after the bell…..must admit I have become addicted to a program on Netflix called Nashville…soapy trash with country music..WTF am I thinking!!!

I am not sure which is the scary bit about the following chart…the fact that football players get so much money or that Tony Abbott earns nearly as much as Obama!!!

Talking of bubbles…. The Shanghai comp gained 110 points or 2.71% to 4194, the CS1 300 added 133 points to 4513 and the Shenzhen comp improved by 24 points to 2126…..amazing stuff…showing no sign of abating at all…President was out there yesterday talking stimulus and stock trading is now a national pastime!!!

And finally…..

An Irishman was terribly overweight, so his doctor put him on a diet.

‘I want you to eat regularly for 2 days, then skip a day, then eat regularly again for 2 days then skip a day …

And repeat this procedure for 2 weeks. The next time I see you, you should have lost at least 5 pounds.’

When the Irishman returned, he shocked the doctor by having lost nearly 60 lbs!

‘That’s amazing!’ the doctor said, ‘Did you follow my instructions?’

The Irishman nodded … ‘I’ll tell you though, be all the saints, I taut I was gonna  drop dead on dat tird day.’

‘You mean from the hunger?’ asked the doctor.

‘No, from all dat bloddy skippin!’

marley

Have a good weekend

Clarence

XXXX

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