Key global trends – equities finally pull back
Global equities had their first monthly negative return since bottoming in March, reflecting a shakeout in the high-flying U.S. technology sector. Despite the risk-off equity sentiment, gold prices also fell back (and commodities more generally), which likely reflected a rebound in the ‘safe-haven’

Read more

Reading time: 3 minutes
The idea of giving someone money and paying them for the privilege of holding it probably strikes most people as odd. However, with several central banks already implementing a negative rate policy and 34% of global government bonds outstanding trading at subzero yields (see Figure 2 below),

Read more

The upcoming U.S. Presidential election poses significant ‘event risk’ for global financial markets. This note examines some of the risks and opportunities investors need to be aware of.
Elections are typically a time for caution
United States Presidential elections are held on the first Tuesday in November every four years. Accordingly,

Read more

Unlike investing in local shares and property, investors considering exposure to international shares and commodities face the decision of whether to hedge the associated foreign currency exposure.
All else constant, if you are bullish on a global investment exposure but also bullish on the Australian dollar, it makes sense to seek a currency-hedged exposure if available,

Read more

The Australian dollar has endured a rollercoaster ride in recent months along with the significant volatility in global risk sentiment. After reviewing a range of fundamental drivers, however, it appears the $A is currently reasonably close to fair value.
An $A valuation framework
A lot has happened since I formally reviewed my $A valuation framework in November last year.

Read more

At the beginning of each financial year, we typically receive many questions around distributions paid by ETFs. With the 19/20 financial year just a few weeks behind us, many investors will likely be turning their mind to the topic of distributions, so we thought we’d provide answers to some of the commonly asked questions.

Read more

Global stocks have staged a relentless rally in recent months even in the face of arguably the worst economic conditions since the Great Depression. While there are many potential explanations for this apparent disconnect, low global bond yields and a “don’t fight the Fed” mentality seem the strongest factors.
Shake it off –

Read more

Reading time: 3 minutes
A large audience dialled into the latest of our fortnightly ‘Virus Crisis’ webinars last week. We received many questions from those who attended. David Bassanese, BetaShares Chief Economist, has provided responses to some of the most-asked questions by attendees.
1. You mentioned V,

Read more

Reading time: 4 minutes
Along with global markets, Australian equities have enjoyed a rebound in recent weeks even as the earnings outlook has deteriorated. This note provides an outlook on both U.S. and local earnings and market valuations, and attempts to gauge the extent to which the ‘bad news’

Read more