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(31 January 2017, AFR, p7, by Misa Han) ‘The Trump administration’s plan to introduce a “flexible” border adjustment tax targeting Mexico, China and Germany could trigger a global recession, a KPMG expert has warned. KPMG partner Grant Wardell-Johnson said US President Donald Trump’s border adjustment tax – if it was ultimately imposed on Australian goods … Continue reading
(30 January 2017, AFR, p33, by Matthew Cranston) ‘Investors who took a risk and bought into Australian farmland in the past 18 months have been vindicated, with rising values across the board supported by strong commodity prices, good weather and expectations of further growth. ‘ Read more at AFR.com (might need AFR login access, or try: AFR.com/trial)
(30 January 2017, AFR, p30, by Karen Maley) ‘US President Donald Trump is about to find that fulfilling his campaign promise to jolt the US economy out of its torpor is much harder than, say, similar pledges to construct a wall along the entire length of the United States’ southern border with Mexico or reviving the controversial Keystone … Continue reading
(30 January 2017, AFR, p22, by John Kehoe) ‘One group of pundits is going to be horribly wrong on Trumponomics. Either bullish investors driving stocks to record highs, or many of America’s eminent academic economists who are overwhelming bearish on Trump’s policies will have egg on their face when the history books are written. Justin … Continue reading
(30 January 2017, AFR, p18, by James Frost) ‘Australia’s top fund managers have had an end to the year they would rather forget with big name stock pickers John Sevior, Hamish Douglass and Kerr Neilson all lagging the benchmark. The recovery of oil prices, a rally in mining stocks and the Trump-inspired reflation trade have … Continue reading
(28 January 2017, AFR, p10, by John Kehoe) ‘Donald Trump’s first week in the Oval Office has been marked by a mix of mayhem, decisive action on core election commitments and brazen brinksmanship. President Trump squabbled over the size of his inauguration crowd and an adviser touting “alternative facts” to rationalise misleading information pushed by … Continue reading
(28 January 2017, AFR, p28, Myriam Robin, SMH) ‘Major bourses around the globe climbed higher in Donald Trump’s first week in office, and the local sharemarket was no exception. The benchmark S&P/ASX200 added 0.7 per cent to 5714 on Friday, and 1.1 per cent over the whole week, buoyed by a rally in the materials … Continue reading
(27 January 2017, AFR, p27, by John Authers) ‘Dow 20,000 is here at last. No regular reader – or indeed, any sentient and sensible human being – should base any investment decision on the Dow. Its methodological flaws are irremediable. And in any case, round numbers should not matter. A brief illustration of the Dow’s … Continue reading
(27 January 2017, AFR, p15, by: John Kehoe, Vesna Poljak) ‘The introduction of tax cuts by US President Donald Trump and optimism around consumption could spark a further rally in US markets, after the Dow Jones Industrial Average burst through 20,000 points for the first time. But fears remain that the new president’s pro-business agenda … Continue reading
(26 January 2017, The Age, p15, Paul McGeough) ‘Washington: He lied – again. US President Donald Trump had car manufacturers in on Tuesday, giving them the rounds of the kitchen for locating their factories abroad – but assuring them he’d reduce “out of control” environmental regulations. And lest he be seen as the climate vandal … Continue reading
(26 January 2017, The Age, BusinessDay, p23, Bhakthi Puvanenthiran) ‘Recent surveys suggest regional and retail small businesses are feeling the heat.’ ‘Business confidence is at its highest levels in six years but if you’re running a retail business in the country you’d have no idea. A new survey reveals an eight point rise in confidence taking the … Continue reading
(25 January 2017, AFR, p27, by Myriam Robin) ‘The Australian sharemarket is forecast to rise this year at its fastest pace since 2013, boosted by a recovery in Australian company earnings. Bank of America Merrill Lynch expects the S&P/ASX200 index to reach 6100 by the end of 2017, a rise of around 9 per cent … Continue reading
(24 January 2017, AFR, p32, by Larry Schlesinger) ‘Shares in struggling real estate group McGrath fell more than 17 per cent on Monday morning to just 71¢ – a third of their IPO value – after the company said low real estate listings and a loss of more than 10 per cent of its in-house sales agents meant … Continue reading
(24 January 2017, AFR, p29, by Jessica Sier) ‘Sharp losses in financial markets on Monday following President Trump’s inauguration reveal just how tense traders are as they await impending economic and trade policies. Few portfolio managers were willing to discuss their positioning, given how little information is in the market. However, many agree there will … Continue reading
(24 January 2017, AFR, p20, by Simon Evans) ‘Apollo Tourism and Leisure’s chief executive says the motorhome industry is excited about the election of Donald Trump as US President. The company has a fleet of 600 motorhomes in the United States and chief executive Luke Trouchet says the entire industry is happily anticipating the prospect … Continue reading
(24 January 2017, AFR, p7, by Michael Bleby) ‘Even as house prices surge, record low interest rates are making them more affordable, according to PRD Nationwide. Commercial banks have cut their rates as the Reserve Bank of Australia has lowered the benchmark cash rate to a record low 1.5 per cent and this is making … Continue reading
(24 January 2017, AFR, p7, by Michael Bleby) ‘Sydney’s median house price jumped to a record $1.1 million in the December quarter, boosting the affordability challenge for the new NSW Premier, Gladys Berejiklian, who singled out the issue on Monday. The fastest quarterly increase in a year and a half pushed the national median house … Continue reading
(24 January 2017, The Age, p10, Bhakthi Puvanenthiran, Kanika Sood) ‘Sydney and Melbourne CBDs are losing ground to the outer suburbs when it comes to commerce.’ ‘… Data from government agencies shows Werribee and Hoppers Crossing in Melbourne’s west, Liverpool in Sydney’s south-west and Toowoomba in Queensland emerged as the hottest hubs of new business activity in … Continue reading
(24 January 2017, The Age, BusinessDay, p21, Ben Marlow, UK Telegraph) ‘If there is one word that encapsulated the mood at Davos this year, it is uncertainty. At one event, when asked to describe how his fellow executives were feeling, a glum senior City figure simply replied “despondent”. According to Meg Whitman, boss of Hewlett … Continue reading
(23 Janauary 2017, AFR, p31, by Michael Bleby) ‘Sales of detached houses and apartments picked up in November, showing the short-term housing construction outlook was healthy, the Housing Industry Association said. House sales rose 5.1 per cent as every mainland state except NSW showed an increase, while unit sales jumped 9.3 per cent, the industry … Continue reading
(23 January 2017, AFR, p10, by Azam Ahmed, Steven Erlanger and Gerry Mullany) ‘There was dismay in Britain, applause in Russia and silence in Japan. French populists found hope, Mexican leaders expressed concern and Germany’s Vice-Chancellor offered an allusion to his country’s dark past. In his first speech as President of the United States, Donald … Continue reading
(23 January 2017, TheAge, BusinessDay, p21, Simone Ziaziaris) ‘An influential fund manager is warning investors to be wary of recently listed companies when it comes to stock picking. Investment management firm Allan Gray Australia says companies that floated in the last three years disappointed in 2016, with none securing a spot in the 10 best … Continue reading
(21 Janaury 2017, AFR, p31, by Myriam Robin and Jens Meyer) ‘The Australian sharemarket lost the last of its 2017 gains this week, as global markets digested the increasing-certainty of a ‘hard Brexit‘ and lost more of the exuberance that greeted the election of Donald Trump last year. The benchmark S&P/ASX200 lost 0.7 per cent … Continue reading
(21 January 2017, AFR, p20, by Carrie LaFrenz) ‘Luxury handbag and accessories maker OrotonGroup said poor sales in the Boxing Day and New Year period, and an underwhelming performance at its GAP stores, pushed the retailer further into red. Investors dumped the stock, which fell as low as…’ Read more at AFR.com (might need AFR login access, or try: AFR.com/trial)
(21 January 2017, AFR, p10, by Angus Grigg) ‘China wants more home furnishings and medicine, less pork and the same amount of jewellery. That is the message from full-year GDP data released on Friday, which showed China’s economy grew by 6.8 per cent in the fourth quarter. The stronger than expected finish to the year delivered … Continue reading
(20 January 2017, AFR, p13, by Angus Grigg) ‘It has long been suspected but never proven. Now Liaoning Province, in the rust belt of northern China, has admitted to faking its economic growth data. The fabrication occurred between 2011 and 2014, the provincial Governor Chen Qiufa told a meeting of the local legislature.’ Read more … Continue reading
(20 January 2017, The Age, BusinessDay, p25, Myriam Robin) ‘The first measure of consumer spending in December to be released suggests Australian businesses had one of their better holiday seasons in 10 years, with consumer spending over the holiday period well above the decade growth average for the month. Intriguingly, however, the higher-than-expected spending didn’t take … Continue reading
(20 January 2017, The Age, p15, Ambrose Evans-Pritchard, Telegraph, London) ‘America should brace for a final blow-off surge in stock markets akin to the last phase of the dotcom boom or the “Gatsby” years of the Roaring Twenties, followed by a cathartic crash and day of moral judgment, according to a Nobel prize-winning economist. Prof … Continue reading
(19 January 2017, AFR, p18, by Jonathan Shapiro) ‘The experts are saying it’s time to brace for higher mortgage rates. The good old days of Reserve Bank of Australia rate cuts and banks falling over themselves to get your business appear to be behind us as the world prepares for a future of higher interest … Continue reading
(19 January 2017, AFR, p16, by Jonathan Shapiro) ‘Any good fund manager knows from experience that stock picking is a humbling pursuit. The winners one year tend to find themselves among the losers the following year – as the market rewards, and then punishes, them for the stocks they own and the strategies they deploy. … Continue reading
Aussie Sharemarket Barometer 