Morgan Stanley equity analysis starts out with a bigger picture look at export industry (focus on energy sector)
Especially pertinent right now with April trade numbers due later (at 0130GMT):
- Australian Trade balance for April due Thursday 7 June 2018 - more preview
- Australian Trade balance for April due Thursday 7 June 2018 - preview
and following the export outperformance reflected in the GDP data yesterday:
- Australia Q1 GDP data a beat - more responses
- More responses to Australian GDP data coming in
- Australia Q1 GDP data a beat - responses (and some the 'yeah ... but' takes)
- Australia Q1 GDP +1.0% q/q (expected 0.9%)
Where was I? Oh yeah …. Morgan Stanley, this in summary:
- LNG fundamentals improving
- Overall sector raised
- in the early stages of a longer-term recovery
- Downside risks (notable in 2017) are lessening
- Under investment over the past few years provides upside prices pressure
- Strong demand
- LNG ... market was overly bearish a year ago
