Indices: Australian ASX 200
The ASX200 rallied strongly on Monday delivering an emphatic “risk on” session which saw 85% of stocks advance while only the Utilities Sector closed down on the day, the message from investors was loud and clear – “Goodbye & good riddance to April + May!” As we we’ve discussed through recent reports bond yields feel like they’ve topped out for now hence under the hood sector rotation is underway…
Last week saw the ASX200 rally albeit in a begrudging manner which saw the index drift lower through most afternoons. However following strong gains by US stocks on Friday the SPI Futures are calling the ASX200 to open back around 7250, its starting to feel like another push towards 7600 could be on the cards.
