ASX value trap – macrobusiness.com.au | macrobusiness.com.au<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"Merrill Lynch reckons growth forecasts for next financial year have now dropped to below 10%, down from 19% last May. That is a pretty sharp fall, suggesting that, amongst other things, the deleveraging of indebted Australian households is having a deep impact. Merrill also notes that resources stocks are yet to be re-rated for the … <\/p>\n
Continue reading “ASX value trap – macrobusiness.com.au”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[40],"tags":[247,752,993,1625,2936],"class_list":["post-1796","post","type-post","status-publish","format-standard","hentry","category-australia-nz-countries-regions","tag-asx","tag-commodity-prices","tag-deleveraging","tag-growth-forecasts","tag-resources-stocks"],"yoast_head":"\nASX value trap - macrobusiness.com.au - the patient investor<\/title>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"ASX value trap - macrobusiness.com.au - the patient investor\" \/>\n<meta property=\"og:description\" content=\"Merrill Lynch reckons growth forecasts for next financial year have now dropped to below 10%, down from 19% last May. That is a pretty sharp fall, suggesting that, amongst other things, the deleveraging of indebted Australian households is having a deep impact. 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We are in the early years of a decades long deleveraging. And, as we know from the sectoral balances of macroeconomics, an economy can only grow through the expansion of the\u2026","rel":"","context":"In "Australia & NZ"","block_context":{"text":"Australia & NZ","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/australia-nz-countries-regions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":598,"url":"https:\/\/thepatientinvestor.com\/index.php\/2011\/09\/01\/disleveraging-and-retail-macrobusiness-com-au-macrobusiness-com-au\/","url_meta":{"origin":1796,"position":1},"title":"Disleveraging and retail – macrobusiness.com.au | macrobusiness.com.au","author":"ColinTwiggs","date":"September 1, 2011","format":false,"excerpt":"We\u2019ve long established the link between [Australian] house prices and retail sales, but here is a pretty clear illustration of the link between mortgage creation and sales. This stands as a stark warning to anyone expecting a bounce in retail sales so long as disleveraging continues. Let alone actual deleveraging.\u2026","rel":"","context":"In "Australia & NZ"","block_context":{"text":"Australia & NZ","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/australia-nz-countries-regions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":16890,"url":"https:\/\/thepatientinvestor.com\/index.php\/2018\/08\/24\/asx-200-hurt-by-banks-and-miners\/","url_meta":{"origin":1796,"position":2},"title":"ASX 200 hurt by banks, miners and politics","author":"Colin Twiggs","date":"August 24, 2018","format":false,"excerpt":"After a false break above 8100 the ASX 300 Banks index completed a bull trap with reversal below 7900. Expect a test of primary support at 7300. Resources stocks continued their correction, with the ASX 300 Metals & Mining index finding short-term support at 3600. Follow-through is likely and would\u2026","rel":"","context":"In "Australia & NZ"","block_context":{"text":"Australia & NZ","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/australia-nz-countries-regions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":16656,"url":"https:\/\/thepatientinvestor.com\/index.php\/2018\/07\/14\/trade-tariff-impact-on-china-australia\/","url_meta":{"origin":1796,"position":3},"title":"Trade tariff impact on China & Australia","author":"Colin Twiggs","date":"July 14, 2018","format":false,"excerpt":"The yuan is falling as threat of a tariff war rises. The Shanghai Composite Index is testing its 2016 low at 2700. Breach would warn of a decline to the 2014 low at 2000. Commodity prices are plunging in anticipation of falling demand from China. Chinese monthly iron ore imports\u2026","rel":"","context":"In "Aussie dollar"","block_context":{"text":"Aussie dollar","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/forex\/aussie-dollar\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":19282,"url":"https:\/\/thepatientinvestor.com\/index.php\/2019\/10\/19\/asx-and-3-headwinds\/","url_meta":{"origin":1796,"position":4},"title":"ASX and 3 headwinds","author":"Colin Twiggs","date":"October 19, 2019","format":false,"excerpt":"Despite recent strong performance, investor enthusiasm may be cooling, with the Australian economy facing three headwinds. Declining Household Spending Household income growth is faltering and weighing down consumption. Household spending would have fallen even further, dragging the economy into recession, if households were not digging into savings to maintain their\u2026","rel":"","context":"In "Australia & NZ"","block_context":{"text":"Australia & NZ","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/australia-nz-countries-regions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":16538,"url":"https:\/\/thepatientinvestor.com\/index.php\/2018\/07\/06\/banks-lift-asx-200\/","url_meta":{"origin":1796,"position":5},"title":"Banks lift ASX 200","author":"Colin Twiggs","date":"July 6, 2018","format":false,"excerpt":"The ASX 300 Banks index continues to test resistance at 8000. Respect remains likely and would indicate another test of primary support at 7300. Rising banks lifted the ASX 200. Follow-through above 6250 signals another primary advance, with a target of the October 2007 high at 6750. This leaves me\u2026","rel":"","context":"In "Australia & NZ"","block_context":{"text":"Australia & NZ","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/australia-nz-countries-regions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/1796","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/comments?post=1796"}],"version-history":[{"count":0,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/1796\/revisions"}],"wp:attachment":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/media?parent=1796"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/categories?post=1796"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/tags?post=1796"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}