Key News Overnight:
The equity rally goes on. U.S. stocks rose for a fourth day, hitting new records with Chinese tariff cuts and positive earnings overshadowing coronavirus concerns. Treasuries were essentially flat after erasing early losses.
China’s exports slowed last month in the run-up to the Lunar New Year holiday, but before the coronavirus really bit. Consensus is for a year-on-year drop of 4.2%, compared with December’s 7.9% gain.
Philip Lowe makes his semi-annual appearance before Parliament’s economic committee, and the central bank releases its quarterly update of growth, inflation and unemployment forecasts.
Growth and risk sensitive assets have yet to demonstrate totally the same level of relief and optimism regarding the global growth outlook. Sovereign bond yields moved little, with the yield on 10 Year US Treasuring gaining only a point overnight
Australian Retail Sales data topped the economic calendar locally yesterday, and largely disappointed market participants. Retail Sales were shown to have contracted by -0.5 per cent last month.
In This Issue:
Byron Energy (BYE) | SM71 Well Update | Not covered | No rating
Hot Chili (HCH) | Cortadera drilling results modelled | Not Covered | Not Rated
De Grey Mining (DEG) | Hemi discovery | Not Covered | Not Rated
Perenti (PRN) | Tietto Minerals (TIE) | Gage Roads (GRB) | Orthocell (OCC) | Hazer (HZN) | Construction – Risky Business | Botanix (BOT) | Salt Lake Potash (SO4) | Otto Energy (OEL) | Triangle Energy (TEG)