Again assuming our outlook on bond yields is correct it could prove a headwind for the US banking sector, although it wasn’t the case overnight with WFC rallying over 3%. The stocks almost tripled since its panic low in 2020, importantly this is currently our largest holding with a 9% weighting hence we are considering reducing into current strength.
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Buy Hold Sell: The best and worst performers of FY25
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Friday 1st August – Dow off -33pts, SPI down 64pts
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Thursday 31st July – ASX -15pts, RIO, FLT, BPT
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MM is considering taking profit on part of our WFC holding into strength
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