News

This week’s podcast talks about the Cannasouth IPO, Smartpay annual report and provides a warning about CFD trading.

Fed Chair Jerome Powell held interest rates steady, as expected, and signalled potential cuts later this year.

Closer to home, rising expectations of further interest rate cuts drove Australian shares higher, as the Reserve Bank’s minutes from its June meeting revealed the possibility of two rate cuts before the end of the year

Global markets​ were higher overnight, with gains on Wall Street  with Facebook, Apple and Amazon leading the way, as investors awaited a key Federal Reserve meeting that is expected to lay the groundwork for an interest rate cut later this year. ​

Markets are already pricing in a 25bp rate cut in July. Our view is that this could be setting up for disappointment.