Founder and CEO, Europacifica Consulting

Naomi Fink

Founder and CEO

Europacifica Consulting

Macroeconomics

<figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/009/868/original/Chart2.Australia.Risk_.Pref_.png?1467594254" class="editor-image img-responsive" data-smartkarma-image-id="9868"><figcaption class="figcaption">Australians risk-averse? Not today, mate (Source: Europacifica)</figcaption></figure> Speculation that Australia will lose its <a href="http://www.afr.com/news/politics/election/election-2016-the-trafficjam-political-culture-threatening-aaa-credit-rating-20160703-gpxil9" target="_blank">AAA rating</a> due to political deadlock at the polls has probably been enhanced by <a href="http://www.telegraph.co.uk/business/2016/06/27/george-osborne-to-speak-in-attempt-to-calm-markets-following-bre/" target="_blank">the final downgrade</a> to the UK's own rating, motivated by the recent EU referendum.  Medium-term, the "lucky country" might very well escape the fate of capital flight, given there are many more controversial events (such as US elections) that affect Australia little. Whenever appetite for risk revives…

Australians risk-averse? Not today, mate (Source: Europacifica) Speculation that Australia will lose its AAA rating due to political deadlock at the polls has probably been enhanced by the final downgrade to the UK's own rating, motivated by the recent EU referendum.  Medium-term, the "lucky country" might very well escape the fate of capital flight, given there are many more controversial events (such as US elections) that affect Australia little. Whenever appetite for risk revives…

Asian Equities Analyst, Logistics & Transport, Tracking Traffic

Daniel Hellberg

Asian Equities Analyst, Logistics & Transport

Equity Capital Markets

Global Logistic Properties / Equity Capital Markets

As China Logistics Property Holdings (CLPH)  prepares for a Hong Kong IPO, we compare it to <a href="https://www.smartkarma.com/entities/2894" target="_blank" data-smartkarma-citation="entities:2894:1">Global Logistic Properties Ltd</a> (GLP), by far the largest player in China's modern industrial property sector. This short note is meant to lay out the differences and similarities between the two companies' China portfolios, and hopefully it can also generate some questions for CLPH management to answer for investors in the coming days. Although GLP is not a 'pure play' on Chinese demand for modern…

As China Logistics Property Holdings (CLPH)  prepares for a Hong Kong IPO, we compare it to Global Logistic Properties Ltd (GLP), by far the largest player in China's modern industrial property sector. This short note is meant to lay out the differences and similarities between the two companies' China portfolios, and hopefully it can also generate some questions for CLPH management to answer for investors in the coming days. Although GLP is not a 'pure play' on Chinese demand for modern…

First Cut: Global Logistic Properties Vs. China Logistics Property Holdings

FX Strategist

Greg Gibbs

Fundamental analysis of topical themes in FX

Amplifying Global FX Capital

Amplifying Global FX Capital was founded in 2015 and is fully owned by Greg Gibbs. It is a registered company both in Australia and Colorado, USA and is a licensed in Australia to provide financial services.

We are producing a regular trading view orientated macroeconomic analysis of topical themes in global financial markets, with a particular focus on foreign exchange. We invite you to view an “executive summary” of these reports in “AmpGFX Reports” under our “Research” menu.

These reports are drawn from the analysis of Greg Gibbs and inform the capital management he undertakes on behalf of the company. The trading performance is posted periodically on our website. We aim to build our company into both a research and capital management business. We are currently in the planning phase for managing capital for wholesale customers.

Greg Gibbs has spent his working life of more than 26 years in financial markets, beginning in 1989 at the Reserve Bank of Australia, after completing a Bachelor of Economics Degree (Honours) at the Australian National University. He has been a CFA Charterholder since 2005. He has worked in Sydney, Singapore, New York and London for major global banks and presented on foreign exchange markets to major financial institutions and companies around the world, and maintained a high profile in the financial media.

Before Amplifying Global FX Capital, Greg was the Head of Asia Pacific Market Strategy at the Royal Bank of Scotland based Singapore. He now resides in Breckenridge Colorado.

We think the case is clear for the RBA to cut rates tomorrow and are predicting this outcome.  The much lower core inflation reading, evidence of tightening bank credit conditions, some softening recently in credit growth, cooler job vacancies, a stronger AUD, some renewed doubts on China and timing of the 2 July election suggest the RBA needs to be decisive and get ahead of expectations.  Consequently we see further weakness in the AUD and continue to favour gold as we discussed last week outlining risks in China that may spill over to global asset markets and the rebounding JPY that may push the BoJ toward more easing.

We think the case is clear for the RBA to cut rates tomorrow and are predicting this outcome.  The much lower core inflation reading, evidence of tightening bank credit conditions, some softening recently in credit growth, cooler job vacancies, a stronger AUD, some renewed doubts on China and timing of the 2 July election suggest the RBA needs to be decisive and get ahead of expectations.  Consequently we see further weakness in the AUD and continue to favour gold as we discussed last week outlining risks in China that may spill over to global asset markets and the rebounding JPY that may push the BoJ toward more easing.

Leading Independent Investment Research, Morningstar, Inc.

Morningstar

Leading Independent Investment Research

Morningstar, Inc.

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. We offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors. 

Morningstar provides data on more than 500,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 16 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries, with more than $180 billion in assets under advisement or management as of June 30, 2015. We have operations in 27 countries.

Download the Morningstar Fact Sheet : http://corporate.morningstar.com/US/documents/MarketingFactSheets/AboutMorningstarFactsheet.pdf

Equity Bottom-Up

Australia & New Zealand Bankin / Equity Bottom-Up

<ul><li>The most compelling equity ideas globally from Morningstar's coverage universe.</li><li>Updated for February 2016.</li><li>Recent Asian additions: <a href="https://www.smartkarma.com/entities/443" target="_blank" data-smartkarma-citation="entities:443">ANz Bank,</a> and <a href="https://www.smartkarma.com/entities/914" target="_blank" data-smartkarma-citation="entities:914">Platinum Asset Management</a>.</li><li>Recent Asian deletions: <a href="https://www.smartkarma.com/entities/711" target="_blank" data-smartkarma-citation="entities:711">Santos</a>, <a href="https://www.smartkarma.com/entities/693" target="_blank" data-smartkarma-citation="entities:693">Brambles</a>, <a href="https://www.smartkarma.com/entities/917" target="_blank" data-smartkarma-citation="entities:917">Csl Ltd</a> &amp; <a href="https://www.smartkarma.com/entities/958" target="_blank" data-smartkarma-citation="entities:958">Qube Holdings</a></li></ul>Analysts: Michael Holt CFA

The most compelling equity ideas globally from Morningstar's coverage universe.Updated for February 2016.Recent Asian additions: ANz Bank, and Platinum Asset Management.Recent Asian deletions: Santos, Brambles, Csl Ltd &amp; Qube HoldingsAnalysts: Michael Holt CFA

Research and consultancy, Tabbush Report

Daniel Tabbush

Research and consultancy

Tabbush Report

We provide research and consultancy on Asian banks. Our focus is on what we call “Asian bank research, without the noise.” We are interested in the most critical swing-factors for banks, the NPL and credit cycle, and where we believe there is a gap between perception and reality. We often focus on the less studied components of bank financial statements.  Our research is highly thematic, sometimes examining unlisted banks and companies as a window on mainstream banks. 

Being independent allows us to look at smaller banks, often overlooked by others. Analysis of BIS bank guidelines in the context of Asia, is also a focal point, while we also analyze global banks operating in the region. We use what we believe is the most comprehensive, reliable financials database, SNL Financial. S&P Capital IQ augments our database, with corporate data and CEIC, with economics. 

Asian bank research, without the noise.

Thematic (Sector/Industry)

Do not be lulled by a false sense of security with high NPL coverage. The figures can decline quickly and China is the quintessential example. &nbsp;Differences in NPL coverage trends, can help frame where banks are in their NPL cycle or how well prepared they are making themselves. Or both.&nbsp;The stand out is China.

Do not be lulled by a false sense of security with high NPL coverage. The figures can decline quickly and China is the quintessential example. &nbsp;Differences in NPL coverage trends, can help frame where banks are in their NPL cycle or how well prepared they are making themselves. Or both.&nbsp;The stand out is China.

Beware of NPL Coverage Trends Across Asia

Australia

Goodman Group is an integrated industrial property group. The Group has operations in Australia, New Zealand, UK, Asia and Europe. Goodman's activities include property investment, funds management, property development and property services. The Group's property portfolio includes business parks, industrial estates, office parks and warehouse/distribution centers.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Goodman Group (GMG AU)

Australia a Risk Haven? Not Today, Mate

Speculation that Australia will lose its AAA rating due to political deadlock at the polls has probably been enhanced by the final downgrade to...

Naomi Fink

First Cut: Global Logistic Properties Vs. China Logistics Property Holdings

As China Logistics Property Holdings (CLPH) prepares for a Hong Kong IPO, we compare it to Global Logistic Properties Ltd (GLP), by far the...

Daniel Hellberg

AmpGFX - RBA Cut the Obvious Decision

We think the case is clear for the RBA to cut rates tomorrow and are predicting this outcome. The much lower core inflation reading, evidence of...

Greg Gibbs

Equity Best Ideas

The most compelling equity ideas globally from Morningstar's coverage universe. Updated for February 2016. Recent Asian additions: ANz...

Morningstar, Inc.

Beware of NPL Coverage Trends Across Asia

Do not be lulled by a false sense of security with high NPL coverage. The figures can decline quickly and China is the quintessential example....

Daniel Tabbush

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)