Good morning! Let’s start the week…
1. The most important charts in the world. Wall Street’s brightest minds have shared the charts they think are the most significant trends and themes for the markets. Themes include credit in China, low volatility, and understanding the Fed’s next move. Here’s a sample from Emad Motasque, who notes the rising Boko Haram violence and the potential disruption to oil supply out of Nigeria.
2. Australian police are being deployed to Ukraine to help finish the process of retrieving the dead from the MH17 disaster site, Prime Minister Tony Abbott confirmed last night. There were some suggestions that they could be armed for self-defence, although wisdom has prevailed on the sentiment of Australia’s special envoy in Ukraine, Angus Houston, who said: “I think it’s going to be very important to posture a non-aggressive, non-threatening force so that nobody will interfere with it”. Just this morning it’s being reported that their arrival has been delayed because of fighting in the area.
3. It’s a big week for global data, with the focus on developments in the US. On Wednesday, there’s the FOMC meeting which as usual will be watched carefully for any guidance on the taper, and then there’s the first estimate for Q2 US GDP, which the market will be watching especially closely given the severe-weather-driven contraction of 2.9% in the first quarter. It all leads towards the US jobs report on Friday, with the market expecting 231,000 jobs added for July.
4. It’s a quieter week for Asia and Australia, with the usual update to the ANZ-Roy Morgan consumer confidence index out tomorrow, June dwelling approvals out on Wednesday, and the July AiG PMI out on Friday, as well as the HSBC PMIs for the region, with China the focus as usual. ASX futures are pointing to a slightly lower open following a flat session on markets on Friday; a break through the important 5600 mark for the local market is the point to watch this week.
5. Westpac’s big call on interest rate rises. Like the other major banks, Westpac sees interest rates in Australia being on hold until next year, but they’re projecting very steep rises when the tightening finally starts. “While markets are currently in denial that a business cycle exists, current market estimates of the peak rate in the cycle look to be conservative,” writes Bill Evans. Westpac is projecting rates will rise from the current 2.5% to 4.75%, something that would have a dramatic impact on the hip pockets of Australians.
6. Be a Google power searcher. We all use Google so much for everything, so it’s worth spending a few minutes learning how to do it really well. There are tips for narrowing your searches by everything from specific websites, to file types like a PDF or an excel spreadsheet, and even sorting images by a particular colour palette.
7. Vast movie torrenting site The Pirate Bay is going mobile. The site – which we revealed recently is the most popular illegal download site in Australia with more than 1.8 million Australian visitors in May – now has a mobile-optimised version, recognising that users are increasingly going to be nicking content using something other than a desktop computer. An Australian government policy options paper which leaked last week raises the possibility of blocking sites like The Pirate Bay.
8. Aussie cops handcuff Lily Allen. The Australian Federal Police are internally investigating why its officers agreed to handcuff UK singer Lily Allen at Gold Coast Airport yesterday. Apparently she asked for the treatment, they agreed, and she shared this pic on Instagram and Twitter of herself kneeling. An hour later, she deleted it. “It appears the members involved were caught in the moment and standard protocol were breached,” an AFP spokesman said.
9. Aussie dominance at the Commonwealth Games. All is right with the world and Australia is back on top of the gold list in Glasgow, although disappointingly is yet to crack the tonne with just 73 medals overall. Weekend winning highlights included The Missile James Magnussen leading an Aussie sprint trifecta home in the 100m freestyle, and Stephanie Morton and Anna Meares’ one-two in the sprint at the velodrome. Best story goes to Michael Shelley, who became our first mens’ marathon winner since 1994, helped home by the last one, Steve Monaghetti, who ran the last 1km with him, offering support.
10. Elsewhere in weekend sport, three talking points: the mighty Waratahs are through to the Super Rugby final after smashing the Brumbies in Sydney on Saturday; Vincenzo Nibali won the Tour de France, and Australia beat Germany to win the Robot Football World Cup.
Bonus item: The Game of Thrones bloopers reel for Season 4 is out. Enjoy:
Have a great day. I’m on Twitter: @colgo
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