Wry & Dry #6-25 Testy Teals. Invade Russia? Really? Gonski cash went goneski.
An inconvenient truth of being a politician is that one’s daily bread depends on others. Sometimes it’s not the wicked whim of the voters; it’s the fickled finger of the Electoral Commission.
Y’see, the AEC not only runs elections, it also decides electorate boundaries. Which is why a sandpit fight has developed within a loosely-allied, single-issue political collective called Teals.
Reporting season continues – Seek, Seven Group Holdings, Beach Energy and Nufarm
Most companies who have an accounting year-end date in June, select August as the month to report their full year results. We’ll provide updates in Investment Matters over the course of the next few weeks. Here’s a snapshot of results reported in the week just past for stocks held within client portfolios.
A weak US employment report on Friday 2nd August added to the level of uncertainty.
For market participants the principal task was determining whether the level of dislocation was indicative of sharp changes in a relatively narrow set of conditions, or whether concerns were much broader and more permanent.
By the end of the week the outlook was much clearer and markets across the globe recovered much of their losses. This was especially the case in Australia where the markets are now only slightly down a year-to-date basis. More importantly measures of uncertainty such as the US VIX index of volatility had fallen 60 per cent from the highs of Monday.