Indices: Australian ASX 200
The ASX200 is set to open down 100-points this morning back around the 7000 level following the weakness across US stocks. Assuming we follow the lead from global bourses it’s the growth stocks that will wear the brunt of the selling while the defensives should outperform. We see 2 different paths unfolding over the coming weeks following the Feds very clear message on Friday:
The ASX200 rallied strongly on Thursday helped by a bounce in US stocks, a couple of strong company reports and further corporate activity as Perpetual (PPT) and Pendal Group (PDL) look to have finally tied the knot – M&A was added to overnight as the next stage of the KKR v Ramsay Healthcare (RHC) saga was released, more on this later. Market sentiment…
Really bullish, there's more to go in the reflation rally
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