Weekly Reports | Jun 12 2020
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Download related file: 126202084639SP-DJI-Announces-June-2020-Quarterly-Rebalance
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By Greg Peel
As we watch the ASX200 slip-slide away once more, a greater focus is placed on two ASX events next week – the expiry of June quarter derivatives on Thursday and the rebalance of S&P/ASX indices on Friday.
The March quarter rebalance was abandoned due to the profound volatility at the time, but despite some volatility returning just at the wrong time, the June rebalance was already announced last week. So it can’t be cancelled. The attached document will provide you with all the ins and outs.
The expiry of the June futures contract and ASX index options on Thursday could be a wild ride if this volatility carries into next week. I won’t attempt to explain here exactly why, but if you understand the word “gamma” in the context you know want I mean.
Next week brings the release of the June RBA meeting minutes and an RBA Bulletin. Economically we’ll see data for March quarter house prices and the country’s population at end-2019, but more importantly the May jobs numbers and a first estimate of May retail sales.
China will release May industrial production, retail sales and fixed asset investment numbers on Monday. The US will also see May production and sales numbers, on Wednesday.
New Zealand releases its March quarter GDP result on Thursday and the Bank of England meets that night.
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