Market commentary
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Rising rates and a falling dollar put the squeeze on mortgagees
Andrew Macken
August 10, 2018
For Australians with a mortgage, there’s a good chance life is feeling somewhat tougher – and for good reason. For one thing, mortgage rates are increasing. Meanwhile, the Aussie dollar has been depreciating against the US dollar, which is eroding the global purchasing power of all Australians. Unfortunately, these dynamics are largely out of our control. continue…
by Andrew Macken Posted in Market commentary
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Catalysts that Ended Prior Bull Markets
Amit Nath
August 7, 2018
The current bull market is only months away from becoming the longest in modern history, in fact if the market holds together through to September 2018, we will have crossed that mark. As we approach this “milestone” we thought it would be useful to reflect on the some of the other 11 bull markets that have occurred since WWII, paying particular attention to 6 of them, and importantly what was perceived to have caused their demise. continue…
by Amit Nath Posted in Editor's Pick, Market commentary
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Eastern Australia’s drought is bad news for agribusinesses
Stuart Jackson
July 30, 2018
The worsening drought in Eastern Australia is resulting in increasingly difficult conditions for businesses right across the agriculture sector. And if official weather forecasts hold firm, it looks like things will be tough for some time to come. continue…
by Stuart Jackson Posted in Market commentary
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Stock Bubble? Lessons from Dalio, Buffett and History
Roger Montgomery
July 3, 2018
As we are all well aware, central banks have been, through quantitative easing, suppressing interest rates since the GFC. Consequently, monetary policy has fueled unprecedented flows of institutional and private capital into real estate, private equity and stocks. continue…
by Roger Montgomery Posted in Editor's Pick, Market commentary
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Farewell Fiscal 2018, Hello Fiscal 2019
David Buckland
July 3, 2018
As Fiscal 2018 has drawn to a close, let’s take a closer look at the financial year that was. Excluding dividends, the Australian All Ordinaries Index was up 9.1 per cent to 6,290, and much of this gain took place in the December 2017 half-year. continue…
by David Buckland Posted in Market commentary
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Search for Yield and the Ballooning Bond Market
Amit Nath
June 21, 2018
The size of the corporate bond market has grown extraordinarily subsequent to the 2008 / 2009 financial crisis, adding ~$4.5 trillion worth of Investment Grade (BBB rated and above) and High Yield debt (BB rated and below) representing an increase of ~150%. Of particular note is the split between BBB (lowest rated Investment Grade debt) and High Yield (junk rated debt). continue…
by Amit Nath Posted in Market commentary
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The US market is massively overpriced – but is that a problem?
Roger Montgomery
May 23, 2018
The US bull market is now 110 months old, and many stocks are looking expensive – despite reports of exceptional profit margins. Which is why we continue to hold a larger proportion of our portfolio in cash than many, if not most, of our peers. continue…
by Roger Montgomery Posted in Editor's Pick, Market commentary
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Which businesses could lose out if migrant numbers are cut?
Andreas Lundberg
May 10, 2018
The national debate over immigration policy has been heating up for some time. Clogged roads, crowded trains and buses, and surging house prices are just some of the issues being blamed on our increased migrant intake. So, which businesses would be impacted if the government tightens the tap? continue…
by Andreas Lundberg Posted in Market commentary
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Investment Returns: 1900-2017
David Buckland
May 3, 2018
Any investor looking for long term context should read the Credit Suisse Global Investment Returns Yearbook 2018 by Elroy Dimson, Paul Marsh and Mike Staunton of the London Business School. They have analysed investment returns, volatility, and inflation from 23 countries since 1900. continue…
by David Buckland Posted in Editor's Pick, Market commentary
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Why you need to keep an eye on US Treasury Bonds
Stuart Jackson
May 2, 2018
Many stockmarket investors don’t pay much attention to movements in US Treasury Bonds. But there are some very strong reasons why they should. And one of those is their impact on share prices. continue…
by Stuart Jackson Posted in Market commentary
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