Global Markets
Global stocks remained in a upbeat mood last week, still basking in the after-glow of the US-China trade deal and continued encouraging signs of stabilisation in the global growth slowdown. US 10-year bond yields also had a chunky move higher, to be just under 2%, while the $US –

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Global Markets
Two major market concerns appear to have been resolved over the past week, with US President Trump concluding his “phase 1” deal with China and the UK Conservatives romping to victory and making certain the UK’s “soft exit” from the EU.  That said, with this expected good news largely anticipated and priced into markets over recent weeks and months,

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The following is a copy of a contributed commentary for the Australian Financial Review on Friday 6 December 2019.
Consumer have stopped spending
This week’s September quarter national accounts proved at least one thing – you can goad households toward the shopping malls, but you can’t make them spend.

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Global Markets
Global equities got off to a poor start last week thanks to Trump’s decision to impose  tariffs on (small fry) Brazil and Argentina, a weaker than expected US manufacturing survey and – most critically of all – reports that Trump was relaxed about not concluding a trade deal with China until next year.

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Global Markets
Wall Street hit new record highs last week with investors remaining ever hopeful of a trade deal.  On that score, the latest titbit of information was China’s pledge to tighten protections for intellectual property.  That said, we’re still in a waiting game – with even those itching to take profit likely reluctant to sell until “the deal”

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Global Markets
Mixed signals with respect to progress in US-China trade talks saw global equities and bond yields ease back last week.  Otherwise there was relatively little to focus on, apart from the fact the  Markit US service and manufacturing indices were a bit better than expected on Friday.  As noted last week,

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Global Markets
Global markets are currently enjoying a “no news is good news period” – ever hopeful that a US-China trade deal will get done, and no news to the contrary is encouraging as it suggests both parties are still at least talking.
What we don’t want is President Trump flying off in a rage again –

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Global Markets
Global equities continued to rally last week, buoyed by ongoing hopes that the US and China will eventually conclude a trade deal – despite some uncertainty over whether existing tariffs will be rolled back or not.  Despite his bluster that “China wants a trade deal more than I do”,

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