ABX Weekly 1/05/2019
ABX weekly 01/05/2019 Market Update The S&P 500 closed at record all-time closing highs Friday. This was due to US Q1 GDP coming in strongly @3.2%, well above the previous 4Q18’s GDP growth of 2.2% and market expectations. The Goldilocks range dominates, as corporate earnings do enough to maintain these record stock prices but with modest […]
ABX Weekly 24/04/2019
ABX weekly 24/04/2019 Market Update Officials in Beijing signalled they are less comfortable adding further stimulus to the economy, leading to losses over the past two days for some of the world’s hottest markets. The CSI 300, which had surged almost 40 percent this year on the back of policy loosening, fell further overnight after […]
ABX Weekly 17/04/2019
ABX weekly 17/04/2019 Market Update Positive trade sentiment has boosted confidence throughout the market during the past week with China and the U.S. continue to work on narrowing their trade differences. Additional good news came from the Chinese economy with the release of better than expected economic growth figures. Its economic growth recorded 6.4% for the first quarter of this year […]
ABX Weekly 10/04/2019
ABX weekly 10/04/2019 Market Update The US Fed has its meeting this week, with a near hundred per cent consensus they will keep rates unchanged the market is more interested to see the path it will take for the rest of the year. With all the geopolitical risk going on we believe it would be […]
ABX Weekly 03/04/2019
ABX weekly 03/04/19 Market Update The Apr RBA policy decision was as expected keeping rates unchanged and the Governor’s statement was fairly low key ahead of the Federal Budget at 7:30 pm. The Australian Government has promised to deliver a surplus of $7.1 billion next year, pay off all debt in a decade, and provide tax cuts and […]
ABX Weekly 27/03/2019
ABX weekly 27/03/2019 Market Update The U.S. posted its biggest monthly budget deficit on record last month, thanks in part to the combination of falling corporate and individual tax revenue and increasing federal spending. Following on from our inverted yield curve comment last week The US curve has also inverted in the 3 months against the US 10s. […]
ABX Weekly 20/03/2019
ABX weekly 20/03/2019 20th March 2019 Market Update The yield compression story continued this week and we saw the Australian 3-year Government bonds trading below the cash rate! While that may be partially due to lower market liquidity on the back of future rolls it still surprised us how negative currently the sentiment is in […]
ABX Weekly 13/03/2019
ABX weekly 13/03/19 13th March 2019 Market Update One of my core themes of late has been the growing divergence between the markets’ expected path of policy easing from developed market central banks, and the actual outlooks of these institutions themselves. I would stress that central banks have been moving cohesively to a more dovish […]
ABX Weekly 06/03/2019
ABX weekly 06/03/2019 Market Update In what seems a recurring theme bonds opened heavy lead by German bonds, stabilized and then proceeded to rally back by the close. Despite this similar pattern there was more for markets to review over the week, European PMI’s on net came out better than expected, US Non Manufactuing ISM was […]
ABX Weekly 27/02/2019
ABX weekly 27/02/2019 Market Update Wall Street’s three major indexes are slightly lower after a choppy session as investors eyed mixed US economic data, corporate news and waited for clarity on issues such as the US-China trade talks. Lower-than-expected housing data contrasted with a better consumer confidence report, while Home Depot was among the biggest drags […]