New job, new firm but the same Free Whelan. Thank you for your continued support and keep unlocking valuable insights into the global market every week with me!
Good afternoon,
Starting off with a bit of a rant on this Super Bowl Monday and as someone who works and has worked quite closely with professional athletes there's nothing here that I can fault.
Source: Tracey Holmes - XWe have a former deputy PM who we just expect is in a perennial state of oblivion while on the job, and we're all just ok with it. I'd be ok with it were it not for the double standard the media has in this regard.
Speaking of which
I'll grant that the above is tenuous at best with regards to market-related content but it had to be said. Something else that is very much market-related is having to watch the painful charade around President Biden's cognitive abilities. If you didn't follow it he was being investigated for knowingly taking classified documents when leaving the VP gig in 2017.
"Special Counsel Robert Hur said in a report that he opted against bringing criminal charges following a 15-month investigation because Biden cooperated and would be difficult to convict, describing him as a "well-meaning, elderly man with a poor memory."
- courtesy Reuters. Wow.
As for Trump, we don't see any scenario under the current circumstances in which, if he is legally allowed to run, he isn't the next elected President. Note I say 'elected' because there's a real likelihood that Biden has to take a break. Meaning...Trump has already done the Presidency. I can't stand him but the playbook is simply to insert the same thing that happened in 2016 but without the mucking around in the first few months finding their feet. Business-friendly, tariffs, no foreign wars, waking up every day with some fresh nonsense statements his staff has to wind back.
In short, bullish markets.
A quick detour to announce the BPC NRL Tipping Competition!
Welcome to the BPC NRL Tipping Competition for 2024. The season is set to kick off with a bang in the glittery lights of Las Vegas. Panthers are favorites to take the crown again but the Broncos look like a formidable opponent to take revenge from the heartbreak of 2023. BPC loves its footy and we're very excited for the season ahead. We also love to win stuff so please keep an eye out for the prizes on offer when announced. Until then, sign up and get tipping for Round 1.
RBA
Anyone who says there's a chance of hikes is wrong, plain and simple. At least as per last week re RBA Governor Bullock's messaging. Listen to the Head of Financial Markets Strategy at Westpac if you actually want to know what's going on.
Source: Martin Whetton - X
Finally, there are a few things flashing around about how much credit card debt is rising in the States. Beware jumping at shadows when it comes to dollar figures like that. Most things in dollar terms are getting bigger (if you think about it).
Wealth is also going up. Bigger numbers are getting bigger. Relax.
Source: Ryan Detrick, CMT - X
Markets continue to track higher against February seasonality. The stats say to ease off a little exposure into the back half of the month.
Stay safe and all the best, (Kansas City Chiefs by 3)
James
