Friday 14th Sept 2012 (Morning)

Gamechanger! $40b a month, open ended action by the fed.  Dow up 200+, green all over the screen at this point!

Indices	Current	+/-	%
Dow Jones	13539.86	206.51	1.5488
S & P 500	1459.99	23.43	1.631
NASDAQ	3155.83	41.52	1.3332
FTSE 100	5819.92	37.84	0.6544
DAX 30	7310.32	-33.21	-0.4522
CAC 40	3502.09	-41.7	-1.1767
Milan MIB30	16244.28	-175.51	-1.0689
Nikkei	8995.15	35.19	0.3927
Hang Seng	20047.63	-27.76	-0.1383
Hang Seng China Enterprises	9480.27	0	0
Straits Times	3030.14	0.48	0.0158
Shanghai Composite	2110.3787	-16.1754	-0.7606

SPTGLD: 1771.33

AUDUSD: 1.0544

US Initial Claims numbers were 382k – above expectations and yet, this has hardly rated a mention (deservedly so) is light of the news from the FOMC.

Several stocks going ex today, but nothing to major, this should not impact the markets.

Security	Description	DivAmnt	Last	Yield %
AAU	Adcorp Australia	0.75	18.5	4.05%
BRG	Breville Group Ltd	11.5	543	2.12%
BYL	Brierty Limited	1.75	35	5.00%
IAF	iShares UBS Comp Bnd	77.3816	10436	0.74%
IGB	iShares UBS Treasury	57.6844	10412	0.55%
IHD	iShares S&P High Div	7.9561	1388	0.57%
ILB	iShares UBS Gov Infl	17.5605	10455	0.17%
ILC	iShares S&P/ASX 20	16.9178	1948	0.87%
IOZ	iShares MSCI Aus 200	13.606	1900	0.72%
RWH	Royal Wolf Holdings	4.5	225	2.00%
SRV	Servcorp Limited	7.5	330	2.27%
TGR	Tassal Group Limited	4	123	3.25%

There are two main sotires on the markets today:

FMG and the claims that they are requesting that their lenders waive their debt covenants for the next 12 months.

The Fed’s decision to proceed with QE3.

It would seem that the ASX is primed to jump on the news out of the US, with all sectors primed to benefit. As for FMG, we will have to continue to monitor the situation closely, but this may present a buying opportunity, particularly if the iron ore price increases on the back of Chinese stimulus spending.