Markets are like hiking… sometimes you get lost, but have to find the trail…
Trust that you had a great weekend and are raring to go for an “eventful” week on markets….
So yes, we arrived safely from our hiking adventure (not before we got lost for ~ 3 hours, found ourselves surrounded by 4,000+ leeches and had to hitch-hike back to the car, as it was pitch black and we were 12km from where we started)….
We finished the night off with a steak and a glass of shiraz…
Overall, a good “adventure”….
This morning, The pound gained, spurring a rally in higher-yielding peers, as the first poll taken after the murder of opposition lawmaker Jo Cox showed the campaign for the U.K to remain in the European Union was gaining momentum.
With the vote due this Thursday, a poll from Survation taken on Friday and Saturday for the Mail on Sunday showed “Remain” backed by 45 percent and “Leave” by 42 percent, reversing positions from Survation’s previous survey.
This week will all be about BREXIT… will they, or won’t they?
It will be a close call and the results of the referendum will be made public Friday morning AEST…..
So… What's on today?
Metcash full-year results, Australian Energy Week conference
Gold gained 1.6% on Friday night, as investors seek safety… so expect Australian gold producers to outperform this morning….
The SPI is flat 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.