Monday, 27 July 2015

Financial Orbit wrap 27/07/15

Five sentences or graphics which sum up the Financial Orbit output over the last 24 hours across the website, twitter account and anything else thought about...

1. Australia – mortgage cost spread vs cash rate.  And in some parts of the country they still have a housing boom (Sydney etc.).  Hmmm.



(h/t @linzcom, @johnnyshap)

2. I am impressed by the UBS wealth management division's progress across all geographies...


...but conclude that the shares are overvalued (link here). 

3. Meanwhile I have a lot of time for McGraw-Hill Financial and their general strategy / high recurring income business but I perceive their acquisition today as being simply overvalued (link here).  

4. Back to macroeconomics and this article titled: 'IMF warns of gloomy Eurozone outlook'.  Structural reform as shown below is absolutely required...it is not all about debt writedowns for Greece.

5. And finally...so many big market levels currently.  Not just the 8% fall in the Shanghai bourse today which ranked as one of the worst individual days recently...

...but other headlines I have collected today including: 

S&P 500 slides for 5th consecutive day





Not easy out there...and will this trade weighted US dollar level overhang decision-making/commentary?  In my view US rates are not going up as fast as the average analyst thinks...


Oh and then there's the matter of a myriad of corporate reporting this week.  Here is just the schedule for the US...


(h/t @WrigleyTom)

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