It’s funny how sentiment can turn quickly in markets but the overnight price action in the S&P 500 and the Dow, and commentary from many sources in the US suggests that stocks might be running out of steam for this rally. Certainly crude oil’s continued collapse helped feed that notion […]
Credit rating agency Standard and Poor’s has revised their outlook for China’s sovereign credit rating to negative from stable because it believes the country’s “economic rebalancing is likely to proceed more slowly than we had expected”. Standard and Poors left China’s AA- long-term and A-1+ short-term sovereign credit ratings at […]
Get set for the “Autumn Avalanche”. That’s the message from Savanth Sebastian, Economist at Commsec who wrote in his weekly Investor Signposts publication that in the “next fortnight over a dozen pieces of economic data will be released together with a meeting of the Reserve Bank Board”. And that’s just […]
The release today of the wage price index for the fourth quarter of 2015 will reinforce again the slow rate of income growth that Australian workers are now facing. That’s important because for consumers, and the shops they spend their hard earned cash in, the retardation of wage growth might […]
Stephen Koukoulas, or The Kouk as he’s known, is one of Australia’s best known and most colourful economists. He’s also a guy who doesn’t mind a punt if the constant quoting of political betting odds on his Twitter feed is any guide. Today he combined these twin passions to take […]
Stocks are lower this morning. Ostensibly this move is being blamed on the big fall in crude oil which has seen Nymex Crude drop 2.255%, back below $35 a barrel. But the linkage could also be that macro-traders are betting on a stronger dollar on the back of Fed promises […]
A quick recap: Not the most exciting of nights last night with US markets open but the rest of the nation having the day off, along with the Japanese, Canadians and Spanish. Sure, stocks managed to end in the black but oil, having rejected important technical support Friday, was hammered […]
Reversal of fortunes.