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Eddy... Thanks for keeping things interesting...

Good Morning,

 

So…

 

Eddy “slips” and now Holden want to cut sponsorship with the Collingwood football club….

 

At least it’s taking some media attention away from Malcolm vs. Bill or England vs. the rest of Europe (i.e. Brexit) and keeping things interesting….

 

Last night, the S&P 500 climbed 0.6 percent for its biggest gain since May 25. It rose as much as 1.4 per cent, before some profit taking …

 

Over the past several days, the benchmark posted its worst weekly retreat since April amid global anxiety that Britain will choose to secede and central banks' efforts to boost growth are losing their potency.

 

We still feel it is a 50:50 call, however, the young demographic are strongly opposed to leaving the EU and may strongly influence the vote…..

in Europe, The Stoxx Europe 600 Index jumped 3.7 per cent, rallying more in one day than it has in any full week since February and building on Friday's 1.4 per cent advance.

What's on today?

The RBA will release its latest meeting minutes later today, as well there will be ABS house price data. RBA Assistant Governor Guy DeBelle speaking in Sydney 

Focus will be on MTS and it’s poor earnings released in yesterday’s trading session, which could see further downside, short-term.

The SPI is up 6 points this morning

 

Niv Dagan is an Executive Director of Melbourne based boutique funds management and corporate advisory firm, Peak Asset Management (www.peakassetmanagement.com.au). He is also a regular financial commentator on Sky Business.

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