Bond markets signal caution – time to pay attention READ HERE to learn more.
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RBA lays out welcome mat for Takeover Mania! Who might be next?
Roger Montgomery
February 9, 2021
There are few who question that post-COVID fiscal support is necessary by governments to avoid a depression. Government spending is of course debt funded and borrowing occurs through the issue of Bonds. Large deficits, such as those seen after the pandemic commenced ensure a steady supply of government bonds. And without central bank buying of these bonds, bond yields would rise. Continue…
by Roger Montgomery Posted in Companies.
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February 2021 Reporting Season
Joseph Kim
February 8, 2021
We enter the February 2021 reporting season with a materially different backdrop to the one faced by investors in August 2020. Expectations have been rebased significantly upwards – along with share prices – suggesting a more even risk-reward skew for share price direction in terms of upside/downside due to earnings surprises. Continue…
by Joseph Kim Posted in Companies, Editor's Pick.
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Good reasons for Tabcorp to sell its Wagering & Media division
Stuart Jackson
February 8, 2021
Australian gaming giant, Tabcorp Holdings (ASX:TAH) has received unsolicited, confidential, non-binding and highly conditional proposals to buy its Wagering & Media division. I think a demerger makes sense for Tabcorp, and its investors, as it would leave the company as a leaner, almost pure play lotteries business. Continue…
by Stuart Jackson Posted in Companies.
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Bingo catches a bid. Who could be next?
Dominic Rose
February 5, 2021
Bingo Industries (ASX:BIN) confirmed in late January that it has received an unsolicited, indicative takeover proposal from a consortium led by private equity firm, CPE Capital (formerly known as CHAMP Private Equity), and including a Macquarie Infrastructure Fund (Macquarie Infrastructure & Real Assets, MIRA). Continue…
by Dominic Rose Posted in Companies.
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What to make of the Gamestop short squeeze?
Tim Kelley
February 5, 2021
The developments in recent weeks in relation to trading in Gamestop, a US-listed mall-based retailer of video games, have been fascinating for a whole host of reasons. Not the least of these has been how poorly-understood the whole episode has been. Continue…
by Tim Kelley Posted in Companies.
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What CCP’s results say about the health of the economy
Andreas Lundberg
February 4, 2021
Credit Corp (ASX: CCP), which is a buyer of debt, is a company we follow quite closely. Apart from being a potential investment, CCP’s fortunes provide a keen insight into the level of financial stress in the real economy. So, the company’s recent results were a good indicator of where we are at. Continue…
by Andreas Lundberg Posted in Companies, Global markets, Market commentary.
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Food inflation – why is it rising rapidly?
David Buckland
February 4, 2021
Many commodities – including cereals, oilseeds, dairy products and pork – which make up the UN Food and Agriculture World Food Price Index, are on the rise. The table below illustrates the move over the past five years and the past twelve months. Continue…
by David Buckland Posted in Market commentary.
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Bubble, bubble toil and no trouble!
Roger Montgomery
February 3, 2021
There are a number of arguments being advanced to suggest the stock market is in a gigantic bubble that is at risk of bursting imminently. Some of the arguments relate to broad overvaluation, the tidal wave of overpriced IPOs that double on listing, and the observation that interest rates remaining low forever is tantamount to the unrealistic, and previously unrealised, expectation of high rates of earnings growth being sustained forever. Continue…
by Roger Montgomery Posted in Editor's Pick, Market commentary.
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