Mirvac 1H22 Earnings

Mirvac reported 1H22 operating EPS of $0.075. FY22 guidance was reaffirmed at $0.15, aided by higher commercial development profits.

We continue to view the apartment and commercial pipeline as a key driver of growth following a softer-than anticipated 1H22 update.

MGR is now trading on a forward yield of 4%.

US Inflation

U.S. consumer spending barely rose in February as an increase in spending on services was offset by declining purchases of motor vehicles and other goods, while price pressures mounted, with annual inflation surging by the most since the early 1980s. 

Bitcoin – Sell Signal

The rebound in the NASDAQ has been sharp and it’s possible we’re now looking at a level of overhead resistance. For crypto investors, this provides an opportunity to consider hedging or an outright short position.

The strategy requires a stop loss which means any short exposure is closed out if the market rally continues.