How much further has the Grexit derisking rally got to go?
For equity markets, this week has been all about removing the "Grexit" risk premium built into valuations. Markets have been quick to make this adjustment; with the ASX 200 index closing 5.3% above last week's low.
- {{x.value}}
{{ twilioFailed ? 'SMS Code Failed to Send…' : 'Enter your SMS code' }}
A text message with your verification code was just sent to {{user.DayPhone}}
We cannot send you a code via SMS to {{user.DayPhone}}
Hi {{ user.FirstName }}, please provide your mobile number.
{{ content.trialHeading.replace('{0}', user.FirstName) }}
We'll send you a text message with a verification code to start your free {{ '0' == '1' ? 'Eureka Report' : 'Intelligent Investor' }} 15-day trial.
{{ content.upgradeHeading.replace('{0}', user.FirstName) }}
The email address you entered is registered with InvestSMART
Please login to continue
We have sent you an email with the details of your registration.
Looks you are already a member. Please enter your password to proceed
{{ upgradeCTAText }}
Updating information
Please wait ...
Your membership to InvestSMART Group recently failed to renew.
Please make sure your payment details are up to date to continue your membership.
Having trouble renewing?
Please contact Member Services on support@investsmart.com.au or 1300 880 160
You've recently updated your payment details.
It may take a few minutes to update your subscription details, during this time you will not be able to view locked content.
If you are still having trouble viewing content after 10 minutes, try logging out of your account and logging back in.
Still having trouble viewing content?
Please contact Member Services on support@investsmart.com.au or 1300 880 160
Please click on the ACTIVATE button to activate your Eureka Report 15-day free trial
Please click on the ACTIVATE button to activate your Intelligent Investor 15-day free trial
Please click on the ACTIVATE button to finalise your membership
Unsuccessful registration
Registration for this event is available only to Eureka Report members. View our membership page for more information.
Registration for this event is available only to Intelligent Investor members. View our membership page for more information.
- You are already registered for this event.
- This event is already full.
- Please select a quantity for at least one ticket.
- {{ i }}
Forgotten password
Please enter your email address below to request a new password
- Indepth analysis of ASX listed shares
- BUY, Hold and Sell Recommendations
- Ideas Lab
- Special Reports
- Alan Kohler’s Weekend Briefing
- Interviews with CEO’s & top influencers
- Money Cafe and Talking Finance
- Super Advice and Q&A with Ask Alan
For equity markets, this week has been all about removing the “Grexit” risk premium built into valuations. Markets have been quick to make this adjustment; with the ASX 200 index closing 5.3% above last week’s low.
Market attention is now likely to focus on how much further this de-risking rally has to play out. Traders will be looking to assess fair value for stocks against a macro background of downside risks to China’s economy and commodity prices and the likelihood that the US will soon begin to lift interest rates. Given this backdrop, the current rally in the ASX 200 seems likely to end well short of high just below 6000 it established in April.
Buyers may also soon start to become cautious ahead of the upcoming profit reporting season in light of the price recovery over the past week. As with yesterday’s production report by Woodside this morning’s release by Santos’s has revealed the impact of falling oil prices with the risk of worse to come given excess supply capacity in international markets.
For further comment from CMC Markets please call 02 8221 2137.
