Our road map for bonds & equities remains on track into Christmas with investors’ resolve being tested as the economic news gets more challenging by the day. However we must remember for the local index to test its June low and bonds yield to make fresh post COVID highs the news always needed to be challenging, and the bulls could easily argue that considering what’s been thrown at stocks over the last week they’ve performed reasonably well although a ~10% pullback by the ASX200 is never something to celebrate.
- We are still looking for the ASX200 to trade in a 6400-7100 range over the next 3-6 months implying the risk/reward now favours the buyers.
- We are not underestimating the “left-field” news from the UK but at this stage, it looks to be creating the washout we’ve been looking for in stocks.
MM remains bullish the ASX200 into Christmas
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