Bassanese Bites: Sell the fact – September 21 2020
Global markets The correction in global equities continued last week given the latest Fed meeting offered nothing new and U.S. economic data disappointed somewhat. Bonds yields were steady while the $US eased a bit further. Although the Fed confirmed it has moved to a new framework which …
Bassanese Bites: Spot the Dot – September 14 2020
Global markets Global equities continued to pull back last week, driven in large part by the tech-heavy NASDAQ-100 Index. Compared to the previous week’s news (SoftBank and Tesla) there was little fundamentally new that triggered the further equity sell-off – suggesting this remains nothing more than …
Bassanese Bites: Tech tantrum – September 07 2020
Global markets U.S. stocks edged ever higher last week, despite a lack of progress on extending fiscal stimulus and the Fed’s reluctance to consider further monetary measures despite its ongoing concerns for the economy. The Fed’s failure to hint at new stimulus also helped stem the …
Bassanese Bites: Flying doves – August 31 2020
Global markets U.S. stocks edged ever higher last week, despite a lack of progress on extending fiscal stimulus and the Fed’s reluctance to consider further monetary measures despite its ongoing concerns for the economy. The Fed’s failure to hint at new stimulus also helped stem the …
Bassanese Bites: Eerie calm – August 24 2020
Global markets U.S. stocks edged ever higher last week, despite a lack of progress on extending fiscal stimulus and the Fed’s reluctance to consider further monetary measures despite its ongoing concerns for the economy. The Fed’s failure to hint at new stimulus also helped stem the …
Bassanese Bites: Yield spike – August 17 2020
Global markets Global equities pushed higher last week despite a continued U.S. impasse over further fiscal stimulus. Talk of a Russian vaccine and still generally encouraging U.S. economic data helped keep equity bears at bay. The risk-on sentiment was also evident in a spike in bond …
Bassanese Bites: Stimulating times – August 10 2020
Global markets Better than expected U.S. economic data and stimulus hopes continued to buoy global equities last week, with the S&P 500 now only 1% from its previous peak level. The FAANG stocks have a lot to do with this performance, but even the S&P 500 …
Bassanese Bites: RBA to cut to 0.1%? – August 03 2020
Global markets Global equities saw fit to focus on the positives last week, taking heart in the Fed’s renewed pledge to support growth and in the awe-inspiring ongoing strength in tech sector earnings. Indeed, in another case of “bad news is good news” the Fed last week …
Bassanese Bites: Double dip? – July 27 2020
Global markets Global equities tried hard to break higher early last week on the back of more hopeful vaccine news and Europe’s long-awaited stimulus package, though ended the week on the back foot due to renewed U.S.-China tensions and higher than expected U.S. weekly jobless claims. America’s …
Bassanese Bites: Cover up – July 20 2020
Global markets Global equities eked out further gains last week, largely reflecting more vaccine hopes, good JP Morgan earnings and general relief that more widespread lockdowns were not re-imposed in the United States. Indeed, the tech-heavy NASDAQ actually slipped back last week while the S&P 500 …