Date registered: January 28, 2012
Jul 27
I’m in New York on an investment researcher’s conference and will be back in the coming days and hopefully will restart posting again! Had a good session a few days ago with a great presentation on how low volatility stocks have produced outstanding long run investment returns over many years…should be an index product on …
Jul 19
Oh dear. I just read the above headline in the Money Management daily…click here…and the stated reason is… they deliver reliable income streams and protect capital in volatile markets …I don’t think so or more to the point, with no where near the ability of cash. It looks like the S&P analyst is referring to …
Jul 10
Source: RBA Its been a few weeks since I posted my last Australian bond yield curve but nothing’s really changed. I guess its even true when it comes to the economics of the world…China’s data is mixed and not as strong as once expected; US continues to produce mixed data including more weak employment data; …
Jul 08
Chart 1 Source: Trading Economics The above chart shows the 10 year bond yield versus the Debt/GDP of the 10 largest countries in the world by GDP (Except Turkey whose bond data is missing). The chart is divided into 3 sections… Red section…countries with high 10 year bond yields Orange section…high debt levels but low …
Jun 27
Its been over a week since I posted so I thought I’d write about something that is a little bit different and hopefully may provide a little bit of food for thought. The above chart shows the performance of the MSCI Australia Value index (dominated by low PE stocks) vs MSCI Australia Growth index (dominated …
Jun 19
Source: Reserve Bank, Bloomberg I’ve placed this chart on my website more as a reference for an upcoming presentation I’m giving than for any real message it conveys. Basically not too much change…yields are slightly lower than they were at the end of May but they increased a little from a couple of weeks ago …
Jun 18
Source: Bloomberg Spanish bond yields are a far greater concern than Greece…Greece’s exit from the Euro unfortunately is inevitable and the Pro-Austerity victory in the election will just create a delay for, hopefully, an orderly exit from the Euro. With Spanish 10 year bond yields now above 7%, which are completely unsustainable levels, another bailout will undoubtedly …
Jun 12
[table id=1 /] So much for the Spanish bailout… Their 10 year bond yields are heading back up towards 7% and Italian 10year bonds are over 6% and trending up. The half life of any temporary bailout appears to be getting shorter and shorter…not that European equity markets care too much…they’re up a little bit …
Jun 10
Recent years has seen increased interest in infrastructure being included in investment portfolios. The justification goes that, infrastructure assets provide steady income streams linked to inflation from large, often monopoly assets (like toll roads, airports and the like), with long lifetimes that can reduce the capital volatility. As the following ten year chart shows, global infrastructure (represented …
Jun 07
I know I’m a day late with this but anyway… like everyone I was absolutely shocked at the sensational GDP result that came out yesterday. Since August last year the bond market has been moving in a direction that indicates our economy is not what it seems but nevertheless the 12 months to March 2012 shows real …