SUMMARY Bond yields up. Markets down (only a bit). Enjoying the ride. Sceptical but no cracks yet – holding at the top. Debating buying FMG. But not buying it. A boring income stock 36% below intrinsic value. Mention AI and off you fly – Webjet – not complaining. Bitcoin up 11.6% and above $70,000. Just…
Wall Street ended in the red overnight in a quiet rangebound session after the biggest weekly percentage gains for the indexes this year. The Dow Jones traded lower all session ending near session lows, down 162 points (-0.41%), the S&P 500 and the NASDAQ fell 0.31% and 0.27%, respectively, while the Russell 2000 notched a…
No changes to trades today. Gold down slightly in the US but bond yields dropping will help. Lithium and Iron Ore's bounce short lived. No major damage to MIN yet. Edged out some more gain in LLC on Friday but monitoring closely. JMS looking good for now. Alert as it is a stock that could…
The Arbitrage Portfolio – Two new deals announced this morning.
CZR follows the Iron Ore sentiment. Cash coming.
US Check-Ins
Macquarie’s New FOMO Sentiment meter.
US markets closed mixed on Friday, either side of the flatline in quiet trade. S&P 500 down 0.14%, finishing the week up 2.3% (best for the year) and the NASDAQ up 0.16%. The Dow Jones lost 305 points or 0.77% thanks to an outsized move from Nike (-6.9% on negative earnings guidance). It is only…
ASX kicked another 41 points higher to a near record close of 7812 (0.5%). Banks were solid again, CBA up 1.1% and ANZ slightly higher. The Big Bank Basket trading at $208.94 (0.6%). MQG slid 0.8% despite stories of a bid for part of Heathrow Airport. Insurers flat. REITs rallied with GMG leading the way…
THE WEEK THAT WAS Big week for central banks. Turkey raised its rates by 5%. Taiwan raised its rates. The Swiss National Bank cut its rates, RBA talked vaguely of higher rates, yes higher, but only vaguely. It did nothing and won’t for a while (excellent article by Christopher Joye in the AFR), The Fed…
