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Morning sports fans,
Its Friday yay…the US and Euro markets celebrated last night with positive moves as tech stocks rallied and bond eruptions eased on better economic numbers..well better if you see the Fed raising rates later I guess…anyway our market is set fair for an end of week rally…we are up 60 points so far for the week as we continue the range trading …banks have been the big bouncy castles as the NAB rights issue has been well received…the stock is ex div today by 99 cents so will be interesting to see how it fares…
On the political front seems that the latest budget is being very well received(couldn’t be worse ) …especially given last years debacle…this will prove a confidence booster..already the retail stocks are flying as they contemplate all those Tradie dollars coming their way..the one surprising sector that hasn’t really shot higher is childcare which I was backing through the Affinity Group rather than GEM..still happy to back my view but have to admit some frustration.
Seems that risks are slightly waning as suggested yesterday so drift higher may be the go in the short term…think 5750 will cap it as the move down was probably a little overdone..nibbly buyers around for the banks and TLS, should appear soon.At the end of the day where else are you going to put your hard earned…
Bond markets were calmed on both sides of the pond as Super Mario said that he would spend all he had promised despite signs of life in Zombieland…market loves the free money..
US dollar down a bit ..Gold up…Iron Ore coming off a tad and oil down a smidge…
Idea of the Day-Nibble at RMD
Maybe a good time to nibble at RMD after the debacle…need to be quick on your feet but things make have been a little over done bearing in mind that the horror trial finding does not affect their core business only their prospects in the lucrative Chronic Heart Fatigue field…piggy mask business still has potential and at 675 may have a bounce to the 720 level over the next week..at 720 I would be looking to get out though…
And let’s not write off the yield trade just yet people…our economy and the worlds has a long way to go to recovery!!!Even a modest rate rise in the US is only a signal not a start of a more sustained rising rate environment!!!
Things to make me go mmmmm!!!
Remember BHP starts life ex divorce on Monday with Souths32 starting out in its studio apartment with Vinnies furniture…takeaway and cheap wine will be provided…maybe worth befriending under $2…more next week…
Last night Avon in the US had a bid approach..the stock soared for 25 minutes until investors actually started checking out the details…trouble is the Private equity House doesn’t exist!!Seems the trading bots read the statement bought the hell out of it and did no due diligence at all..well they are computers after all…doesn’t make the SEC look good does it…other cosmetic companies followed suit and rallied…seems any bid is a good bid!!!
U.S. 10 year notes yields fell to 2.24% in calmer trading. While Weekly jobless claims came in at 264,000, a touch below last week’s reading and below expectations for a slight increase from the prior. Unemployment benefits remain near 15 year lows.
Yesterday was the best of times and the worst of times for Biotech fans…RMD disaster and SRX triumph..good to see SRX pushing out the survival time for Liver cancer whilst RMD seems to do more harm than good with Chronic Heart Fatigue patients..actually more likely to die…no one had any real earnings from this side of their biz but it’s not a good look!!!
Optus has warned of a short- term hit to its profitability after the telco’s parent, Singtel, approved a $1.7 billion injection of capital expenditure — its largest single investment in the telco in more than a decade — in a bid to boost the breadth and depth of its networks.
GrainCorp is looking for opportunities to expand the malt and oils businesses whose contribution to interim earnings and revenue has overtaken the contribution of the traditional grains business after another poor harvest.
Seems that the US consumer is NOT spending after all…it was supposed that they would spend spend spend as the fuel price fell…well it seems they are saving saving saving…
This is going to be a game changer…The New Silk Road…both land and sea…The Middle Kingdom is rising…
Here’s a sign of the times…Greece has given up pursuing its marbles as they cannot afford the legal bills any more!!!
Greece’s finance minister declared that “Greece’s debt is not viable and the country’s debt repayments to the ECB should be delayed”.
And it was revealed last night that Greece slipped back into recession…that’s a surprise as they still try to rummage down the back of the sofa for more money…last place you look always..
£70,000…………….The amount babies entering the world in 2015 can expect to pay annually in rent in London by the time they turn 18.
Puzzled by Fox News in the US pixelating the breasts out of the recent Picasso picture that sold for record amounts…happy to show violence and preach hate but a pair of breasts? No way too scary!
Don’t think that Barnaby Joyce will be getting an invite to Pirates of the Carribean launch!! Who does Johnny Depp think he is …he’s a pirate not a smuggler!!
There is 79m dollars allocated to finding the missing Malaysian airlines flight in the budget…sure that money could be better spent on a library upgrade for George Brandis or a meal for a ambassador..surely…
Ok its rude but brightened my day!!!If easily offended turn away now!!!
A wedding occurred just outside Govan in Glasgow.
To keep tradition going, everyone got extremely drunk and the bride’s and groom’s families have a storming row and begin wrecking the reception room and generally kicking the living daylights out of each other.
The Police get called in to break up the fight and the following week, all members of both families appear in court.
Ronny the best man stands up and says “Judge, I was the best man at the wedding and I think I should explain what happened”.
The Judge agrees and Ronny to takes the stand telling the court that it is traditional in a Govan wedding that the Best Man gets the first dance with the Bride.
The judge says “OK”.
“Well”, said Ronny, “After I had finished the first dance, the music kept going, so I continued dancing to the second song, and after that the music kept going and I was dancing to the third song, when all of a sudden the Groom leapt over the table, ran towards us and gave the Bride an unmerciful kick right between her legs”.
Shocked, the Judge instantly responded, “God, that must have hurt!”
“HURT!” Ronny replies “Broke three of my fingers!”
Told you…so blame yourself if offended!!
Have a great weekend…
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