10 things you need to know this morning in Australia

Have a nice day. Photo: Justin Kobylka/YouTube

Good morning.

1. North Korea and Russia test the same type of missiles, yet North Korea’s missiles fail 88% of the time, whereas Russia’s fail 13% of the time. We’d like to think that’s because North Korea is comically incompetent at taking over the world. But according to the New York Times, it looks like North Korea’s missiles fail because the US hacks their systems. That’s probably one reason why the Hermit Kingdom is running the ruler over the effectiveness of “saturation attacks”.

2. Investors are going nuts for Snapchat. That’s bizarre behaviour because right now, Snap is, according to Bespoke Investing Group, the only “US stock with a $US20+ billion mkt cap that has ZERO buy recommendations“. And it just had its first down day since its IPO, falling 7% 12% to be perilously close to under its opening share price.

3. And the Dow slipped back under 21,000. Maybe put that down to a rise in the VIX after Trump’s wiretap allegations. Futures have the ASX heading for a slightly down opening, and markets will, as always, take a close look at the accompanying monetary statement right after the RBA makes its rates call at 2.30pm. The Aussie dollar is going nowhere fast and iron ore has fallen below $90 a tonne.

4. Exactly eight years ago, the then-president of the United States, Barack Obama, rated stocks a buy, “if you’ve got a long-term perspective on it”. Here’s how that worked out:

But is it finally at an end? Investment strategist Jeff Saut is at a conference this week with 1000 portfolio managers and 300-odd presenting companies. Combined, they sold “$US7.8 billion of their companies’ stock in February, which was the most in roughly six years”, Saut notes. This is what the S&P “danger zone” looks like.

5. US President Donald Trump has a new travel ban. He’s made five major changes, including taking Iraq off the list, and deleting the clause that led everyone to call the original a “Muslim ban”. And in another departure from Trump convention, he signed it in private.

6. It’s rates day here in Australia. Rates week, really, given the US Fed is all but assured of a hike on Friday. (Which Pedro Nicolaci Da Costa says would be a terrible idea.) It’s all but impossible to imagine that happening here in Australia today. David Scutt’s 10-second guide to the call says so.

7. Buying a suit? Don’t simply assume you’ll get something better the more you pay for it. Lifehacker has dug up this great infographic from The Art of Manliness and Ted Slampyak which shows you how to identify quality in 30 seconds:

Picture: The Art of Manliness and Ted Slampyak

Head down to the Op Shop now and start thumbing some lapels.

8. If you’re cashed up, you might be interested in the new Rolls Royce debuting at the Geneva Motor Show which is painted with real diamond dust. But you’d impress your friends more by buying a python which has been bred to be covered with smiley and alien emojis.

9. Watch with the sound on:

You might have noticed something missing. The New York Knicks tried an experiment to let fans “experience the game in its purest form”. It certainly rocked Warriors forward Draymond Green’s world:

“That was pathetic. It was ridiculous. It changed the flow of the game. It changed everything.”

10. Ben Gilbert admits he has been wary of Nintendo’s new game console, the Switch, for quite some time. And when he got it last week, some of his fears were founded. But now he’s playing the incredible new Zelda game at home, on the train and in bed he’s finding it far more delightful and he’s “so, so glad to have been wrong”.

BONUS ITEM: Humans 1, robots 0. Taking back control:

Have a great day.

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