Apple credit cards!
Asian markets joined ours in taking a beating yesterday.
The Nikkei fared the worst falling 3%, whilst our ten year government bond traded down to a new record low yield of 1.75%; the three year is within a whisker of its record low, currently trading at 1.38% - 12 basis points below the interbank cash rate.
The US curve remains inverted between three months and ten years this morning giving commentators and economists plenty of fuel for their arguments in favour of a rate cut by the Federal Reserve.
Many local commentators are calling for a rate cut by the Reserve Bank. My own view is that this is a job for the Federal Treasurer and a wonderful opportunity presents itself on 2 April when he presents the Federal budget. The Reserve Bank has only monetary policy in its armoury, whereas the government’s fiscal quiver is full of arrows.
My dear friend Anthony Peters wrote in his missive this morning.... “If you want seven really well researched and thoroughly thought through opinions on rates and currencies all you need to do is to ask two economists”.
Overnight Apple announced it is going into financial services as well as news and video content in an effort to diversify away from the iPhone. The new credit card service will be in conjunction with Goldman Sachs.
Index futures are showing a 12 point gain and the Australian Dollar is back over US$0.7100.
When the experts at Next Investors have a stock pick, it may pay to listen.
The Next Investors have been investing in ASX small cap stocks for years, with their best small cap picks yielding returns of 1,200%, 1,120%, 900% and 678%.
They have just revealed their hand-picked, FY2021 stock portfolio of high conviction long-term investments.
Click the link below to see what they are currently investing in.
S3 Consortium Pty Ltd (CAR No.433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information only. Any advice is general advice only. Neither your personal objectives, financial situation nor needs have been taken into consideration. Accordingly you should consider how appropriate the advice (if any) is to those objectives, financial situation and needs, before acting on the advice.
Conflict of Interest Notice
S3 Consortium Pty Ltd does and seeks to do business with companies featured in its articles. As a result, investors should be aware that the Firm may have a conflict of interest that could affect the objectivity of this article. Investors should consider this article as only a single factor in making any investment decision. The publishers of this article also wish to disclose that they may hold this stock in their portfolios and that any decision to purchase this stock should be done so after the purchaser has made their own inquires as to the validity of any information in this article.
The information contained in this article is current at the finalised date. The information contained in this article is based on sources reasonably considered to be reliable by S3 Consortium Pty Ltd, and available in the public domain. No “insider information” is ever sourced, disclosed or used by S3 Consortium.