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Printed: 31 October 2024 4:02 AM

News

15 Jul 2024 - 10k Words | July 2024

By: Equitable Investors

10k Words

Equitable Investors

July 2024


Seek's national job ads count is down 17% over 12 months; corporate bamkruptcy/administration filings at multi-year highs; equal-weighted tech stocks are lagging cap-weighted tech performance by even more than the broader US market; AI valuations holding up VC space too; sustained net short positon on S&P 500; ASX nano/micro caps and the seasonal performance driven by tax loss selling in June, with a rebound in July; and finally the volume of downgrades coming into ASX reporting season is in-line with prior years.

Seek's June 2024 Australian job ads

 

Source: Seek


US bankruptcies by month

 

Source: S&P


Australian external administration appointments by year

 

Source: ASIC


2024 YTD absolute performance - tech v. rest of the market

 

Source: Bernstein via @modestproposal1


2024 VC-backed tech valuations of select verticals, by stage

 

Source: Axios


E-Mini S&P 500 net non-commercial futures positions % of open interest

 

Source: @LizAnnSonders, Bloomberg


ASX ex-resoures by market cap band over 12 months of CY2024

Image

 

Source: Equitable Investors

 

ASX ex-resoures by market cap band - first week of FY2025

Source: Equitable Investors

Average monthly return of S&P/ASX Emerging Companies Index (since March 2016, excluding COVID-impacted CY2020)

 

Source: Equitable Investors


Number of ASX downgrades - comparison with past financial years (FY20 cut short by COVID)

Source: Wilsons

"FIT" universe (ASX micro-to-mid, ex resources) - changes to consensus estimates over past 12 months

Source: Equitable Investors

July 2024 Edition


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