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1.Market Observations, 8.Was Sticky

24 Nov 2018 (AFR) – ASX’s ‘santa rally’ under threat from weak consumer

(24 November 2018, AFR, p24, by Sarah Turner)

Comparative performance - ASX300 index v ASX300 Retail (Bloomberg, AFR)

Comparative performance – ASX300 index v ASX300 Retail (Bloomberg, AFR)

‘Investors may find their Christmas stockings rather empty if the traditional year-end market rally fails to materialise due to weak consumer spending. “I find it hard to see one of those broad-based rallies taking place due to uncertainty on the political and regulatory front,” Janus Henderson head of Australian equities Lee Mickelburough said. “I don’t think its going to be a blockbuster Christmas, the consumer has been pulling its horns in.” The Australian market traditionally ends the year with a bang, with 2017’s December advance for the S&P/ASX 200 Index adding up to 1.5 per cent, and the market rallying 4.4 per cent in December 2016.’

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