Indices: Australian ASX 200

The ASX200 started its first full week of July on the front foot rallying +1.1% on broad-based buying which saw over 80% of the main board close up on the day. All sectors rallied with only the industrials and utilities advancing less than 0.5%, the underlying strength flowed through from the bond market which has started to question how fast central banks will hike rates as recession fears increase, global economic data…

The ASX200 clearly remains very jittery as we saw over the 2nd half of last week, whether the reasoning is “if in doubt sell” or “sell all rallies” the net result has been the same i.e. the markets struggling to make any meaningful headway. On a forward P/E of just 12.6x, the market is now ‘cheap’ while looking at the total shareholder return (TSR) expectation, which adds the difference between…