Morning all,
News yesterday of the discovery of the Higgs Bosun particle was overshadowed by more fallout from the LIEBOR scandal in London…things were quiet overnight with the US closed for burgers and fireworks..the SPI was flat and Gold and Oil fell a little..as were base metals so maybe some backing and filling today.
Yesterday’s rally was nice to see but volume of $3.1bn was pathetic again..maybe we just have to get used to that in the brave new world! Concentrate on selling the big issues..I sold three yesterday in Pitt Street! Expect a sideways day today as we await the return of Wall Street.
Once again we saw some disappointing economic results from Zombieland with German services falling to under 50 which indicates a contraction and Chinese services also expanded at their slowest for 10 months.So the worse the numbers the more the Central banks will have to pump the economy..that’s the theory but let’s hope they have the will to do it.
Down to stocks-yesterday I sent round a note to clients on high yielders ..if you are interested I can send it again..otherwise as I wrote yesterday it may be time for poor old BHP to gather some friends..the stock has been trashed due to concerns that the Klop bought the US Gas business at completely the wrong price and would have to make write downs..well he did pay too much but I think it may be time to look at them as a recovery story as the oil price pushes back up..Brent back over 100 bucks..expect to see BHP closer to 35 in the coming week or so..
Things to make me go all Higgs Bosun.
1.Man Utd due to list…reminds me of the Myers float..looks like you get to have lunch with Jen Hawkins or Wayne Rooney but really you end up sleeping with a bloke called Malcolm.
2.Andy Murray wins to go through to semis…come on! Bringing out the POM in me. Even if he is Scottish!
3.AGO officially says that it won’t pay any Mining Tax casting some doubts on Government forecasts..suspect there will be very few that will pay any of the tax..these guys outmanoeuvred Julia big time…
4.ECB meeting tonight and hopes for an easing. Brazil looking to cut its rates..they are at a record low of 8.5%..traders expecting another 50bps off next week to help economy.
5.Big news in Fairfax press yesterday that they are moving from Microsoft to Google Apps..why was this news..not sure but shows the rise of the machine…Google and Apple continue to rub Microsofts nose in it.
6.James Packer looking to get more Echo..this one will be the subject of a takeover battle at some stage..there will be stories..maybe that mob in Newcastle could lob in a bid for this as they weren’t successful with DJ’s
7.IMF calls on the US to show fiscal restraint for next ten years and cuts in growth forecast..Debt to GDP now at 107%..which is not good..ask Greece!
8.DJs bid just keeps getting weirder and weirder with a small broker,ITG, in Melbourne responsible for most of the buying before the takeover announcement.
9.The Strange thing about the LIEBOR rate is the way it is set ..who would have thought they worked it out on an honour system..my word is my LIEBOR..clearly not!
10. US payrolls on Friday…
On the radio today..talking markets..Newcastle radio that is..Sky TV next week…
And finally….Two hunters are out in the woods when one of them collapses. He doesn’t seem to be breathing and his eyes are glazed. The other man pulls out his cell phone and calls emergency services. He gasps to the operator, “My friend is dead! What can I do?” The operator in a calm, soothing voice replies, “Take it easy. I can help. First, let’s make sure he’s dead.” There is a silence, then a shot is heard.
Back on the phone, the hunter says, “OK, now what?”
Clarence
XXX
Any financial product advice contained in this email is general financial product advice only and does not take into account any one person’s objectives, financial situation or needs. Therefore, before acting on any financial product advice in this email, you should consider, with or without the assistance of an independent adviser, the appropriateness of the advice, having regard to your objectives, financial situation and needs.
News yesterday of the discovery of the Higgs Bosun particle was overshadowed by more fallout from the LIEBOR scandal in London…things were quiet overnight with the US closed for burgers and fireworks..the SPI was flat and Gold and Oil fell a little..as were base metals so maybe some backing and filling today.
Yesterday’s rally was nice to see but volume of $3.1bn was pathetic again..maybe we just have to get used to that in the brave new world! Concentrate on selling the big issues..I sold three yesterday in Pitt Street! Expect a sideways day today as we await the return of Wall Street.
Once again we saw some disappointing economic results from Zombieland with German services falling to under 50 which indicates a contraction and Chinese services also expanded at their slowest for 10 months.So the worse the numbers the more the Central banks will have to pump the economy..that’s the theory but let’s hope they have the will to do it.
Down to stocks-yesterday I sent round a note to clients on high yielders ..if you are interested I can send it again..otherwise as I wrote yesterday it may be time for poor old BHP to gather some friends..the stock has been trashed due to concerns that the Klop bought the US Gas business at completely the wrong price and would have to make write downs..well he did pay too much but I think it may be time to look at them as a recovery story as the oil price pushes back up..Brent back over 100 bucks..expect to see BHP closer to 35 in the coming week or so..
Things to make me go all Higgs Bosun.
1.Man Utd due to list…reminds me of the Myers float..looks like you get to have lunch with Jen Hawkins or Wayne Rooney but really you end up sleeping with a bloke called Malcolm.
2.Andy Murray wins to go through to semis…come on! Bringing out the POM in me. Even if he is Scottish!
3.AGO officially says that it won’t pay any Mining Tax casting some doubts on Government forecasts..suspect there will be very few that will pay any of the tax..these guys outmanoeuvred Julia big time…
4.ECB meeting tonight and hopes for an easing. Brazil looking to cut its rates..they are at a record low of 8.5%..traders expecting another 50bps off next week to help economy.
5.Big news in Fairfax press yesterday that they are moving from Microsoft to Google Apps..why was this news..not sure but shows the rise of the machine…Google and Apple continue to rub Microsofts nose in it.
6.James Packer looking to get more Echo..this one will be the subject of a takeover battle at some stage..there will be stories..maybe that mob in Newcastle could lob in a bid for this as they weren’t successful with DJ’s
7.IMF calls on the US to show fiscal restraint for next ten years and cuts in growth forecast..Debt to GDP now at 107%..which is not good..ask Greece!
8.DJs bid just keeps getting weirder and weirder with a small broker,ITG, in Melbourne responsible for most of the buying before the takeover announcement.
9.The Strange thing about the LIEBOR rate is the way it is set ..who would have thought they worked it out on an honour system..my word is my LIEBOR..clearly not!
10. US payrolls on Friday…
On the radio today..talking markets..Newcastle radio that is..Sky TV next week…
And finally….Two hunters are out in the woods when one of them collapses. He doesn’t seem to be breathing and his eyes are glazed. The other man pulls out his cell phone and calls emergency services. He gasps to the operator, “My friend is dead! What can I do?” The operator in a calm, soothing voice replies, “Take it easy. I can help. First, let’s make sure he’s dead.” There is a silence, then a shot is heard.
Back on the phone, the hunter says, “OK, now what?”
Clarence
XXX
Any financial product advice contained in this email is general financial product advice only and does not take into account any one person’s objectives, financial situation or needs. Therefore, before acting on any financial product advice in this email, you should consider, with or without the assistance of an independent adviser, the appropriateness of the advice, having regard to your objectives, financial situation and needs.
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