Indices: Australian ASX 200

The ASX200 embraced the Feds milder rhetoric on Wednesday night and in particular their comments which suggested that aggressive 0.75% hikes were unlikely through 2022 i.e. interest rates are going up but not as fast as many feared. Local bond yields retreated substantially on the news with the 3-years falling almost 0.25% from Wednesdays 3.17% high, MM has been looking for bond yields to consolidate…

The ASX200 failed to hold onto early gains yesterday which was a disappointing performance following a solid result from ANZ Bank (ANZ) which helped the influential Banking Sector buck the markets trend i.e. the “Big 4” posted an average gain of 0.7%. However the resources stocks, amongst others, drifted lower throughout the day damaging both sentiment and the index in the process, investors feel more comfortable…