Global markets were lower overnight as investors moved out of riskier assets ahead of what is expected to be a busy Thursday, when Britain goes to the polls and former FBI director James Comey testifies before Congress.
Yesterday saw the Reserve Bank of Australia’s keep the cash rate steady at 1.50% for the 9th consecutive month, as was widely expected.
From the outlook comments, ATM do not believe there will be rate cuts in the near term, although several in the market are now calling for further interest rate cuts. As we discussed post last month’s meeting, market commentators continue to be split on the outlook going forward (between rate cuts or hikes) and ATM expect the RBA to remain on hold for the near term.
Shares in MG Unit Trust (MGC.AX) plummeted to an all-time low yesterday as the company announced it is beginning a new strategic review. Although a “dining boom” is one of our key investment themes, we would reiterate that se...
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