Indices: Australian ASX 200
Australian stocks have enjoyed some noticeable outperformance over their US peers in the last 3-months and although the “easy money” from a correlation perspective is behind us MM believes this fairly new trend has further to unfold.
The ASX200 continues to rally steadily with the index challenging the psychological 7400 area in the early afternoon as the +0.9% gain took Junes advance to +218-points / 3%, and we’re still only half way through the month, although I would caution the bulls that we’ve reached MM’s target for June assuming the markets going to maintain the same momentum of the last 4-months.
