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DAILY RUNG
13/03/2019

A daily feed of market essentials

13.03.2019

Daily Rung

US: Both the S&P 500 and Nasdaq rose on Tuesday by 0.30% and 0.44%, respectively. However, the Dow Jones was held back by Boeing as further groundings of the 737 MAX were announced.

- Shares in Boeing fell by 5.2% as nearly 40% of the in-service Boeing 737 MAX jets around the world have been grounded.

- The Labor Department announced the US Consumer Price Index (CPI) rose by 0.2%. The CPI had been unchanged for three straight months. In the 12 months through to February the CPI rose 1.5%, the smallest annual gain since September 2016.

EUROPE: European shares endured a chopping session as investors focused on the vote for British Prime Minister, Theresa May’s, plans for an orderly Brexit. The STOXX 600 rose by 0.1%.

- For a second time, May’s EU withdrawal deal has been rejected by MPs. MPs voted down her deal by 391 to 242, they will now get a vote on whether the UK should leave without a deal on March 29th. Britain’s FTSE 100 rose 0.3%.

- Volkswagen reported a decline in operating margins for its core brand as well as announcing that they will introduce nearly 70 new electric models by 2028. Shares in the German carmaker fell by 1.8%.

LOCAL: The Australian sharemarket closed flat on Tuesday as gains from the energy and material sectors were cancelled out by losses in the financials and consumer discretionary sectors. The ASX200 closed 0.09% lower at 6,174.8.

- The big four banks led the losses with ANZ shares dropping 1.2% to $26.79, Westpac closed 0.6% lower at $26.85 and NAB fell 0.5% to $25.25, while CBA was flat closing 0.03% lower.

- The federal government announced that they no longer ban trail commissions for mortgage brokers from 2020, which was one of the key recommendations of the banking royal commission.  Instead, it will hold a review into whether trail commissions should be kept from 2020 onwards.

Daily Chart

Source: Iress, Escala Partners
Enlarge

Throughout the weak equity performance late last year, Australian small caps underperformed large caps materially; in the months of October and December small caps lagged by around 4% in both months. Small caps have bounced back stronger amid the recovery in 2019, although returns still lag over the course of several months.

Daily Data

Daily Weekly Monthly Quarterly Yearly
Equities Close +/- % % % % %
S&P/ASX 200  6,174.8  -5.4  -0.09%  -0.39%  +1.57%  +9.22%  +2.98% 
S&P/ASX 200 SPI  6,164.0  -9.0  -0.15%  -1.33%  +2.43%  +10.25%  +5.46% 
S&P/ASX 200 Accumulation  64,976.4  -52.4  -0.08%  -0.08%  +2.77%  +10.79%  +7.53% 
Dow Jones  25,554.7  -96.2  -0.38%  -0.98%  +0.51%  +4.19%  +1.49% 
S&P 500  2,791.5  +8.2  +0.30%  +0.07%  +1.70%  +5.30%  +0.31% 
Nasdaq  7,591.0  +33.0  +0.44%  +0.19%  +2.38%  +6.94%  +0.04% 
STOXX 600  373.3  -0.2  -0.06%  -0.64%  +2.89%  +6.64%  -1.57% 
FTSE 100  7,151.2  +20.5  +0.29%  -0.45%  +0.25%  +3.94%  -0.88% 
DAX  11,524.2  -19.3  -0.17%  -0.83%  +3.58%  +5.44%  -7.20% 
CAC 40  5,270.3  +4.3  +0.08%  -0.51%  +4.23%  +7.35%  -0.12% 
Nikkei 225  21,503.7  +378.6  +1.79%  -1.02%  +3.06%  -0.46%  -1.47% 
TOPIX  1,605.5  +24.0  +1.52%  -0.85%  +2.09%  -0.07%  -7.80% 
Hang Seng  28,920.9  +417.6  +1.46%  -0.14%  +2.66%  +10.44%  -8.46% 
Shanghai CSI 300  3,755.4  +25.4  +0.68%  -1.59%  +12.76%  +18.44%  -9.02% 
NZ 50  9,397.2  +6.4  +0.07%  -0.03%  +1.26%  +7.54%  +11.03% 
S&P 500 Sectors Close +/- % % % % %
Consumer Discretionary  867.9  +2.0  +0.23%  -0.85%  +1.02%  +4.86%  +2.50% 
Consumer Staples  562.0  -0.1  -0.02%  +0.76%  +0.60%  -0.10%  +0.45% 
Energy  479.8  +2.8  +0.58%  -1.71%  +1.75%  +3.09%  -4.41% 
Financials  434.8  +0.8  +0.18%  -0.62%  +0.35%  +6.75%  -11.30% 
Health Care  1,051.3  +7.0  +0.67%  -0.69%  -0.16%  -0.97%  +5.67% 
Industrials  622.3  -5.7  -0.91%  -1.80%  -0.77%  +9.04%  -4.24% 
Information Technology  1,255.1  +6.5  +0.52%  +1.17%  +3.97%  +8.59%  +1.71% 
Materials  347.6  +1.2  +0.33%  +1.25%  +2.73%  +6.55%  -9.00% 
Real Estate  219.8  +1.0  +0.47%  +1.80%  +2.96%  +7.30%  +14.47% 
Telecommunications  158.8  +0.9  +0.56%  +1.53%  +4.11%  +8.61%  +0.94% 
Utilities  294.0  +1.8  +0.62%  +2.02%  +4.02%  +3.34%  +17.64% 
Commodities Close +/- % % % % %
Oil (WTI)  $57.06  +$0.27  +0.48%  +0.88%  +6.71%  +10.03%  -0.68% 
Oil (Brent)  $66.82  +$0.24  +0.36%  +1.46%  +7.08%  +10.25%  +8.30% 
Gold  $1,301.32  +$7.97  +0.62%  +1.03%  -0.72%  +4.47%  -1.65% 
Silver  $15.43  +$0.13  +0.82%  +1.96%  -1.73%  +4.73%  -6.65% 
Iron Ore  $85.24  +$1.54  +1.84%  -1.34%  -3.04%  +27.68%  +19.72% 
Coking Coal  $1,321.00  +$0.53  +0.27%  -0.01%  +0.86%  -1.83%  -4.20% 
Thermal Coal  $95.05  +$0.50  +0.53%  -3.06%  -0.63%  -6.49%  -3.01% 
Copper  $2.94  +$0.03  +1.01%  -0.09%  +5.99%  +5.41%  -6.38% 
Aluminium  $0.85  +$0.01  +1.41%  -0.02%  +0.64%  -3.40%  -10.43% 
Nickel  $5.94  +$0.09  +1.59%  -8.41%  +5.60%  +21.40%  -4.17% 
Lead  $0.95  +$0.00  +0.48%  -0.25%  +2.46%  +5.52%  -11.01% 
Tin  $9.67  +$0.12  +1.31%  -3.70%  +1.91%  +10.35%  -0.23% 
Zinc  $1.29  +$0.05  +3.65%  +0.90%  +8.82%  +10.43%  -12.39% 
Interest Rates Close +/- % +/- +/- +/- +/-
RBA Cash Rate  1.50%  +0.000%     +0.00%  +0.00%  +0.00%  +0.00% 
90 Day Bank Bill  1.87%  +0.009%     -0.01%  -0.12%  -0.13%  -0.04% 
180 Day Bank Bill  1.95%  -0.005%     -0.05%  -0.15%  -0.21%  -0.11% 
Australian 3 Year Bond  1.59%  +0.003%     -0.07%  -0.06%  -0.35%  -0.53% 
Australian 10 Year Bond  2.03%  +0.002%     -0.12%  -0.08%  -0.41%  -0.79% 
US 10 Year Bond  2.60%  -0.040%     -0.12%  -0.09%  -0.31%  -0.27% 
US 30 Year Bond  2.99%  -0.038%     -0.09%  -0.04%  -0.16%  -0.14% 
iTraxx  68.52  -0.78     +1.43  -6.96  -19.45  +12.93 
Currencies Close +/- % % % % %
AUD/USD  0.708  +0.001  +0.13%  -0.07%  -0.23%  -1.95%  -10.09% 
AUD/JPY  78.83  +0.20  +0.25%  -0.56%  +0.55%  -3.62%  -5.91% 
AUD/EUR  0.627  -0.001  -0.21%  +0.14%  +0.14%  -1.21%  -1.69% 
AUD/GBP  0.54  +0.00  +0.77%  +0.78%  -1.56%  -5.24%  -4.30% 
AUD/NZD  1.032  -0.003  -0.31%  -1.05%  -2.02%  -1.98%  -4.36% 
EUR/USD  1.13  +0.00  +0.34%  -0.22%  -0.38%  -0.76%  -8.52% 
GBP/USD  1.307  -0.008  -0.63%  -0.84%  +1.36%  +3.47%  -6.03% 
USD/JPY  111.34  +0.13  +0.12%  -0.49%  +0.78%  -1.72%  +4.62% 
USD/CNY  6.709  -0.018  -0.27%  +0.01%  -0.97%  -2.49%  +5.99% 
Other Indicators Close +/- % % % % %
VIX  13.77  -0.56  -3.91%  -6.58%  -10.76%  -35.83%  -12.74% 
Australian DLCs Close +/- % % % % %
BHP Billiton PLC ($A)  $32.23  -$0.21  -0.66%  -1.42%  +2.48%  +14.56%  +26.58% 
Rio Tinto PLC ($A)  $76.97  -$0.23  -0.30%  -6.84%  -1.36%  +18.63%  +17.34% 
CYBG PLC ($A)  $3.71  +$0.05  +1.30%  -2.04%  +5.36%  +12.28%  -33.93% 
Janus Henderson Group PLC ($A)  $34.69  +$0.17  +0.49%  +0.69%  +7.30%  +22.97%  -24.17% 
Resmed Inc ($A)  $14.52  +$0.18  +1.22%  +0.40%  +4.88%  -8.98%  +14.83% 
News Corporation ($A)  $18.45  -$0.35  -1.86%  -2.61%  +3.64%  +2.70%  -13.80% 
Fixed Income Indices Close +/- % % % % %
Barclays Glb Agg Bond  1,003.0      +0.52%  +0.58%  +2.40%  +4.11% 
Barclays Glb Treasurys  954.8      +0.60%  +0.55%  +2.14%  +4.37% 
Barclays Global Agg Corp  382.5      +0.36%  +0.65%  +3.36%  +3.37% 
Barclays US Agg  2,076.0      +0.43%  +0.43%  +2.51%  +3.62% 
Bloomberg Barclays Glb HY  566.1      -0.18%  +0.82%  +4.18%  +2.61% 
Bloomberg Australia Comp  9,737.7      +0.61%  +0.58%  +2.79%  +6.62% 
Cash Rates Close +/- % % % % %
Australian Cash Rate  1.50%  +0.00%    0.00%  0.00%  0.00%  0.00% 
US Cash Rate  2.50%  +0.00%    0.00%  0.00%  0.25%  1.00% 
UK Cash Rate  0.75%  +0.00%    0.00%  0.00%  0.00%  0.25% 
ECB Deposit Rate  -0.40%  +0.00%    0.00%  0.00%  0.00%  0.00% 
Bank Bills/Govt Bonds Close +/- % % % % %
90 Day Bank Bill  1.87%  +0.01%    -0.01%  -0.12%  -0.13%  -0.04% 
180 Day Bank Bill  1.95%  -0.01%    -0.05%  -0.15%  -0.21%  -0.11% 
Australian 2 Year Bond  1.66%  +0.01%    -0.06%  -0.05%  -0.29%  -0.37% 
Australian 5 Year Bond  1.67%  +0.00%    -0.09%  -0.08%  -0.38%  -0.72% 
Australian 10 Year Bond  2.03%  +0.00%    -0.12%  -0.08%  -0.41%  -0.79% 
US 2 Year Bond  2.45%  -0.02%    -0.09%  -0.06%  -0.32%  +0.19% 
US 5 Year Bond  2.41%  -0.04%    -0.12%  -0.09%  -0.36%  -0.23% 
US 10 Year Bond  2.60%  -0.04%    -0.12%  -0.09%  -0.31%  -0.27% 
UK 2 Year Bond  0.72%  -0.02%    -0.09%  -0.01%  -0.03%  -0.11% 
UK 5 Year Bond  0.89%  -0.01%    -0.11%  +0.06%  -0.00%  -0.28% 
UK 10 Year Bond  1.16%  -0.02%    -0.12%  -0.02%  -0.12%  -0.33% 
German 2 Year Bund  -0.54%  -0.01%    -0.04%  +0.02%  +0.02%  +0.03% 
German 5 Year Bund  -0.36%  -0.01%    -0.09%  -0.02%  -0.11%  -0.38% 
German 10 Year Bund  0.06%  -0.01%    -0.11%  -0.08%  -0.22%  -0.58% 
Japanese 2 Year Bond  -0.15%  +0.00%    -0.01%  +0.02%  -0.01%  +0.01% 
Japanese 5 Year Bond  -0.16%  +0.00%    -0.01%  -0.00%  -0.04%  -0.04% 
Japanese 10 Year Bond  -0.03%  +0.00%    -0.04%  -0.02%  -0.09%  -0.07% 
Credit Close +/- % % % % %
Australian iTraxx  0.69  -0.01    0.01  -0.07  -0.19  0.13 
US CDX Investment Grade  0.60  -0.00    -0.02  -0.05  -0.18  0.06 
US CDX High Yield  1.06  +0.00    0.00  0.00  0.03  -0.01 
European iTraxx  0.61  -0.01    0.00  -0.11  -0.20  0.12 
Japanese iTraxx  0.57  -0.02    0.00  -0.06  -0.20  0.11 
Emerging Market iTraxx  0.97  -0.00    0.00  0.00  0.01  -0.02 

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