Tuesday 15 September 2015

Samurai Summary: Top Tweets 15/09/2015

Big moves seem to be the norm these days when it comes to Chinese equities with another big day resulting in a heavy selloff as confidence amongst investors wanes over doubts whether the Chinese government's measures are working effectively. Bloomberg reported that today's volume was 36% below its 30 day average which could indicate the government may be holding off intervening in equity markets for the time being.
The selloff spread into most Asian markets including Australia's ASX even after it installed a new prime minister, Malcolm Turnbull after ousting Tony Abbott who's only be at the helm for 2 years. Turnbull who's a self-made millionaire and long-time rival of Abbott said;

"We need a style of leadership that explains those challenges and opportunities. Explains the challenges and how to seize those opportunities. A style of leadership that respects people's intelligence." 

 Let's hope for his namesake his able to revive the Aussie economy that's faced a tough time of late dealing with the downturn in Chinese economy resulting in a shrinkage of exports to that country. Turnbull was scathing of the former prime minister pointing out his lack of leadership in resolving Australia's economic woes as reasons why his party was losing voters support.


 Up until this morning the feeling out there was a rather muted session on account of the build up to the Fed's meeting to come to conclusion on Thursday. It wouldn't be far fetched as the level of importance around the decision is critical with much vigour going into the debate "Will they or Won't they"


And although the camp that sides with the interest rates staying the same win the argument when you look at the probabilities of a rate lift off going back 6 months when it was thought very possible, now very improbable I do believe that this will be a tough call for policymakers and most likely a close call.

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