Market commentary

Attending my undergraduate degree in the early 1980s, there was a big focus on gross domestic product (GDP) per capita. This meant economists took out the often-large stimulus from a rising population, and analysis was done over the population of the day. continue…

by David Buckland Posted in Editor's Pick, Market commentary.

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2023 marked a year of both challenges and opportunities for the Australian private credit market. On the one hand, the tighter credit conditions in the first half of the year saw decreased activity in mergers and acquisitions (M&A), project finance and real estate development financing. On the other, the latter part of the year boasted a more stable interest rate and inflation outlook, as well as improved credit margins, supporting more resilient private credit portfolios. 

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by Dean Curnow Posted in Market commentary.

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In this week’s video insight, I delve into the highlights of the February reporting season and its unexpected outcomes, a key period for those of us monitoring the Australian equity market. Despite a challenging economic backdrop, a noteworthy number of companies have outperformed expectations, bolstering my optimistic view on the potential of quality, innovative companies. As the season concludes, I offer my insights on the unexpected turns and the bright prospects for equity investors, reaffirming my bullish stance for the future.  continue…

by Roger Montgomery Posted in Companies, Editor's Pick, Market commentary, Video Insights.

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Last year, investors who held a non-consensus bullish stance on equities saw their optimism rewarded as the market trended up through 2023. As we pivot into 2024, the outlook might appear to be more complex, but in reality, the preconditions remain the same: disinflation accompanied by positive economic growth. continue…

by Roger Montgomery Posted in Global markets, Market commentary.

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I joined Livewire to discuss the turbulent past six months faced by Qantas Airways (ASX:QAN), marked by controversies and a decline in consumer trust. Despite seemingly positive financial results, I share my concerns, casting doubt on the airline’s future profitability. I stress emphasis on the need for fleet upgrades and recommend reconsidering Qantas stock, citing its failure to keep pace with competitors. Read now: Qantas hits turbulence with “accounting and strategic trickery” and an ageing fleet

by Roger Montgomery Posted in Market commentary, On the Internet.

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In the past 23 years, the U.S. has produced one budget surplus (fiscal 2001) and 22 budget deficits. The past four budget deficits, from fiscal 2020 to fiscal 2023, inclusively have seen an aggregate budget deficit of $9.0 trillion and an average annual budget deficit of U.S.$2.25 trillion.    continue…

by David Buckland Posted in Editor's Pick, Market commentary.

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There’s no fundamental reason for bitcoin to rise other than it is becoming more popular. But as we all know, a shift in sentiment, while usually unpredictable, can have a meaningful impact on the listed price of an asset. continue…

by Roger Montgomery Posted in Editor's Pick, Global markets, Market commentary.

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Reporting season is the gift that keeps on giving. Following on from our reporting of the great results from online retailers Cettire (ASX:CTT) and Temple & Webster (ASX:TPW), results from several other holdings are also encouraging. Seven Group (ASX:SVW), IDP Education (ASX:IEL), and Audinate (ASX:AD8) have all reported, and the initial response from the market has been positive. continue…

by Roger Montgomery Posted in Companies, Market commentary, Stocks We Like.

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Temple & Webster (ASX:TPW) have already added to the positive retail momentum by Nick Scali (ASX:NCK), JB Hi-Fi (ASX:JBH), and Cettire (ASX:CTT).

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by Roger Montgomery Posted in Companies, Market commentary.

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Generally speaking, and while it is early days, this earnings season has been a good one both broadly and for the Montgomery Small Companies Fund, overseen by portfolio managers, Gary Rollo and Dominic Rose. continue…

by Roger Montgomery Posted in Companies, Market commentary.

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