Pete Wargent blogspot

CEO AllenWargent Property Buyers, & WargentAdvisory (institutional). 6 x finance author.

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Tuesday, 15 September 2015

Turnbull rally?

The last six months have been a rather bumpy ride for Australian share markets, and to some extent for the Aussie economy too.

Of course the stock market commentary has tended towards hyperbole, as it always does, accentuating the "losses" rather than the buying opportunities. 

Still that'll never change. 

Anyways, it's another day, another Prime Minister for Australia as Abbott is swept aside in favour of Turnbull. 

There was an initial move in the Aussie dollar before it settled in at around 71.3 US cents. It will be interesting to watch SPI futures to see whether there is any upside for the share market.

There may well be, though markets will likely first be interested in finding out:

(i) who the new leadership team will be; and

(ii) Turnbull's immediate priorities for business and the Aussie economy.

Tomorrow should be a pretty interesting day all in all.

And if we don't get a Turnbull rally, at least we can enjoy some more stock market hyperbole.