Opinion
Gold has been a hedge against risk for thousands of years. And while it is effective more often than not, as far as income production goes, it offers nothing. But for Australian investors, there is a gold investment that can also provide income; the corporate bonds of gold producers
Week in review
Clinton and Trump face off on TV Tuesday at 9.30 am Sydney time. More than 100 million people are due to watch. US Fed left rates on hold, BoJ confirmed it will keep buying equities and bonds and Philip Lowe spoke for the first time as RBA governor
Week in review
UK data surprised on the upside and US Fed officials jawbone on rate rises
Company updates
BHP posts a record loss in FY16 and cuts its dividend, Newcrest delivered a solid FY16 result, Peabody received approval of its five year business plan and two TransAlta bonds added to our DirectBond list
Company updates
Newcrest released its full year results to the market on 15 August 2016
Opinion
The latest data from China shows its investment cycle has collapsed. Return on equity has declined to under 6%, debt has risen rapidly as has non bank shadow lending. Resource companies will find it increasingly difficult to generate satisfactory returns and now is a good time to sell out of the equities and buy the bonds
Week in review
The RBA cut the official cash rate 25 basis points to 1.50% after last week’s inflation result showed the lowest annual reading since 1999
Company updates
IMF Bentham provided its quarterly update to the market, Newcrest reduced its net debt over FY16 and Leighton Holdings Ltd is now known as CIMIC Group Ltd
Company updates
Newcrest has published its quarterly report and reduced net debt
Week in review
Malcolm Turnbull expected to announce his cabinet today, Theresa May sworn in as the UK’s PM and investors take profits with better selling volumes in Qantas and Virgin lines