Good Morning,
Another “average” night for the Aussies, driving us back to 9th on the medal tally.
How is our British rivals 2nd with 16 gold medals, is astounding.
A very impressive effort…….. well done…..
Another very busy day ahead for us with the RBA minutes and BHP, BKN, CGF and WBC to name some of the big names set to report…
In yesterday’s trading session, we took long positions in JBH, ANN and ORA on the back of their strong positive earnings….
Last night, US stocks rallied (Dow + 59 points), as oil was higher (+2.72%) and volatility is now near record lows….
So is this the “calm” before the big storm?
Well…
European indices are now in a “bull market”….
What about us Aussies?
“Stocks have retained a hot pitch and there’s a lot of demand for equities,” said Andrew Brenner, head of international fixed income for National Alliance Capital Markets in New York. “The question is how you make money in a low interest rate environment, and equities might be expensive, but they’re the least dirty shirt.”
The SPI is up 7 points this morning
Niv Dagan is an Executive Director of Melbourne based boutique funds management and corporate advisory firm, Peak Asset Management (www.peakassetmanagement.com.au). He is also a regular financial commentator on Sky Business
By Niv Dagan
