Going to mars and the other things he is going to revolutionize. The broad numbers, the lack of profit, the math doesnt there is a huge mat gap between the math and the story. Is there a similar gap between the math in the story, and it turned out the fundamentals did end up justifying the story . Like tesla butt were debt driven companies. Companies who had to refinance. We were short the stock down 80 and got run over because they were able to get out of there problems because the debt cycle turned. A lot less so on the conceptual ones. The one that was painful for us was america online, which got bought out. There numbers made no sense. The term was higher than they were reporting. They were hit twice for accounting violations. Its seemingly did not matter because we have this tailwind of internet. Everybody and the brother was going to subscribe to this in 1999. They lose money on every subscriber. They got bought out. Average isting somewhere tothree. Two out of three. One out of
The march figure was revised slightly to 3. 17 billion, a slight revision upwards. The aussie dollar falling on the back of those numbers. Imports fell 1 . The big weakness was exports, down 8 . We did get a sneak preview of that when we have the balance of payments current account, net exports would be a big drag on gdp, and that turned out to be the case. Result,a disappointing ,. 5 to recap the big mess billion dollars surplus as opposed to the 2 billion expected. Rishaad i will get it from here. Of course we have the market open in hong kong could lets get the sophie. More disappointing data on the economic front for asia and japan. The aussie did hit a onemonth high with the gdp update, that basedgains looking capped on softer economic momentum. It includes the aussie dollar on course for a second week of losses. At the equities markets, the asx 200 still lower, down. 2 . Taking a look at chinese stocks, the shanghai composite down. 1 at the open. We do have a strong rebound on th
Hello from sydney. This is daybreak australia. Its just after 6 p. M. In new york. The markets were closed today. The fireworks have not started yet. We are still several hours away from that here, but we saw some fireworks over the last few weeks in the markets. The expectation is where are we going to see when the markets open up tomorrow . Are these tech shares going to sell off and what about the dance we see from various markets, except australia. A very interesting statement that came out there. Lets get a check on how the markets are trading that you have new zealand opening up their. A softer tone right at the open. Housing prices look to be finally cooling off in new zealand. On the flipside, in australia, household that had the rba worried and a lack of wage growth, which is why you did not see the iba come out and do anything on rates and seemed worried about hiking anytime soon. Dollar see the aussie fall slightly after that statement. Australianch if the dollars does stren
Foreign investment really rising here. It is our top story today. Indeed, it is. Raising the stakes on the korean peninsula. The United States confirming that the north did indeed test an intercontinental ballistic missile. Agency,a central news the government they are saying kim jongun launched a missile capable of hitting the mainland by the end of the year. Peter is there in seoul. How is the city responding to the drama . A lot of noise, but not much reaction here. Many of the folks on the street view this as another provocation by north korea. , or atg, but nothing least they do not feel it is threatening. Life is normal, business as usual. And i think you saw that with the financial markets. After a little blip yesterday afternoon, it seems to have come back to business as usual. It is onw with kospi, the positive territory. Again, the reaction as i reverted back to basically a new normal. Rishaad this is just it, we were talking earlier on about how sanguine and prosaic people a
Wargames start this trading week , a few jitters, a mixed the session, msci asiapacific nding declines from friday extending declines from friday. The palace intrigue, steve bannon returning to breitbart, the latest in high profile departures from the Trump Administration. Macrolike when it comes to asia and globally, but 54 or the eight, local Central Banks are what we are watching, culminating a week of fed speak from janet yellen and mario draghi in frankfurt this week ending up in wyoming, jackson hole, the central bank meeting, expect ring a cautious mario his comments about the Balance Sheet about Interest Rates and inflation taken wildly by the markets this year, but not expecting a massive policy surge from him, but there could be comments on how the stronger on inflationing expectations, and listening for Janet Yellens comments, guidance when it comes to the richer directory and talents sheet unwind. The ecb, not expecting shock and all from mario draghi. 2014 had him using ja