Good morning. It’s already been that kind of day.
1. Stocks. The rollercoaster ride just keeps rolling, thanks to China fiddling with its currency. Now it’s got traders betting US rates won’t lift until December, which in turn has seen bonds rally, the US dollar undermined and the Aussie dollar rally almost two cents from yesterday’s fresh 6-year lows. Here’s some thoughts on China from the experts:
- ALBERT EDWARDS: We’re heading for a financial market rout every bit as large as 2008
- EL-ERIAN: China made the right move at the wrong time
- DEUTSCHE BANK: China postponed the day of reckoning for cheap money
- CREDIT SUISSE: This won’t be the last time China shaves the yuan’s value
2. That all leaves local traders with an uncommonly positive lead from futures markets this morning on the ASX. Michael McCarthy from CMC even went on the record regarding his inclination:
Today, the Australia 200 index reached a level where, in my view, it is a clear “BUY”. I fully expect to wear a lot of flack for this call, just as I did when I called the market a “SELL” at 5922.
And here’s why he says investors and traders should have a long hard look at spending up.
3. MH370 may have landed in one piece, according to a new theory published by Malaysia’s government news agency. Satellite expert Zaaim Redha Abdul Rahman says a piece of debris that was almost certainly part of MH370 suggests it may have glided along after running out of fuel and descended slowly into the water. He might have chosen his words a little more tactfully:
…it does seem that it got detached pretty nicely at its edges
But he’s not shooting from the hip, either. There’s a growing body of experts saying MH370 came down in a “low-energy intentional ditching”, which is no doubt causing even more stress for victims’ families.
4. Here’s a big shark:
It did the rounds on Facebook yesterday after fisherman “Matthew” kindly shared it. He said he caught the tiger three weeks ago about 20km off the Qld/NSW border, after it swallowed the hammerhead shark he had on the line at the time. (He works on a shark fishing boat.) Not to be outdone, this great white showed off its belly flop in South Africa :
5. Telstra’s not had such a good year. This morning it posted a weaker full year statutory profit of $4.231 billion, down 1%. Here’s new CEO Andy Penn on why.
6. It’s been such a huge night for big screen news, all we can do is post a bunch of links:
- First look at Black Panther in the new Captain America flick
- First trailer for Quentin Tarantino’s bloodthirsty Western
- Seven things we learnt today about “Star Wars: The Force Awakens”
- How “Game of Thrones” might end, according to its author
7. Rupert Murdoch knows how to make a million or two – let’s see how good his flip game is. He bought a Manhattan B&B in March for $US25 million just five months ago, and has since converted it into a four-storey mansion. It’s on the market now for $US28.9 million.
8. Mike Baird is not only Australia’s most popular premier, he’s its funniest. When Victorian premier Daniel Andrews unveiled the state’s new logo yesterday, which you can bet made a couple of very select marketers and lobbyists a lot of money, very quickly, Baird took it down in 52 characters:
*offer excludes harbour, infrastructure and sunshine pic.twitter.com/kj8S5qrP9D
— Mike Baird (@mikebairdMP) August 12, 2015
9. Tampons are kind of in the news right now, courtesy of the man who could be US president next year. They’re also sterile and highly absorbent, so here’s 12 extraordinary uses for them, some of which could save your life, and some which could help you catch and cook dinner.
10. Startup success. The best venture capitalists provide insight and support that can make the difference between a startup failing or succeeding. Here’s 14 brilliant VCs you need to be listening to right now, and they won’t waste your time bragging about their unicorns.
BONUS ITEM: Air New Zealand make the best safety ads. Here’s their latest, mashing up the All Blacks with Men in Black. And David Campese.
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