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A200
MM remains bullish towards the ASX 200 into 2027 around 8650
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IVV
MM remains bullish towards the S&P 500 around 7750 into Christmas
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MM is bullish towards the Canadian TSX Composite Index around 36,000
GGOV US
We are cautiously bullish/neutral towards bonds (yields lower)
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VGB
MM is now neutral towards local 3-year bonds around 5%
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MM is neutral towards natural gas around US$3/MMBtu
OOO
MM is cautiously bearish towards December oil around US$97/barrel.
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AUDS
MM remains bullish the A$ into 2027
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TWE
Trade Idea: Buy Treasury Weine Estates (TWE) using a limit of $5.40, with stops at $5.10, around 5% risk.
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PMV
MM is bullish towards Premier Investments (PMV) below $12
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Latest Reports

Morning report

Macro Monday: The RBA are set to hike on Tuesday, then what?

The Fed and RBA have taken different paths in the last few years, but both have ultimately started tightening again. The Fed began 2024 with rates at 5.25%-5.5%, cut aggressively by a total of 175bps to 3.5%-3.75% by December 2025, then paused as inflation pressures returned before hiking 25bps to 3.75%-4.0% earlier this month. In contrast, the RBA waited until February 2025 to start cutting and delivered just 75bps of easing, taking the cash rate from 4.35% to a low of 3.60% by August 2025. It's been hard work of late for local investors with higher interest rates and lower earnings growth:

Afternoon report

The Match Out: ASX lower as Tech extends slide, Netwealth (NWL) hit with class action

e ASX 200 closed lower today, trading in a fairly tight range through the day, as technology stocks extended their recent slide for a fourth consecutive session and consumer discretionary came under further pressure, falling to a near four-month low. On the positive side, Consumer Staples firmed and Financials held up reasonably well, the two sectors doing the defensive work in what has been a difficult week shaped by rising rate expectations.

The Match Out Market Matters 2
Morning report

ETF Friday: Evaluating 3 leveraged ETFs for a potential Christmas rally by the ASX 200

Early weakness saw the ASX 200 make fresh 3-month lows on Thursday following a soft session on Wall Street. The banks and miners finally danced to the same tune, but unfortunately it was a bearish one, which caused ~90% of the day's decline, led by BHP Group (-1.7%), Westpac (-1.8%), and Commonwealth Bank (-0.7%).

Morning report

What Matters Today: Five ‘recovery stocks’ we like if the ASX enjoys a Christmas rally!

The ASX 200 battled to a 0.1% gain on Wednesday, with BHP alone contributing about twice the index’s overall advance from a points perspective, masking underlying weakness in financials. At the stock and sector level, it was almost as if the market had tuned into yesterday’s MM webinar, “Investing in a 5% World,” with investors voting with their feet and compressing the valuations of long-duration growth stocks as bond yields remained elevated.

Afternoon report

The Match Out: ASX flat as copper hits record highs and banks soften; A2M surges on Mattera acquisition

The ASX finished little changed on Wednesday as weakness across utilities, energy and the banks was offset by a strong session in the lithium and copper names as copper hit a record US$6.92/lb overnight, providing a strong backdrop for the resources sector. M&A continues to be a dominant driver for single-stock moves, though the broader market remained largely macro-driven, balancing stronger commodity prices against ongoing concerns around higher rates.

The Match Out Market Matters 2
Morning report

Portfolio Positioning: The ASX 200 is looking for, or has found, a low

The ASX 200 experienced a choppy session on Tuesday before eventually closing up +0.3%, taking the index into positive territory for the week. The miners contributed more than 50% of the day's advance, but it was a relatively quiet affair considering the impressive gains in Europe and the US overnight. The tug of war at the pointy end of the market remains fairly evenly balanced, with investors only prepared to buy either the banks or miners on a day-to-day basis, appearing to use the other to fund the purchases.

Afternoon report

The Match Out: Tech leads, but the ASX gives back early gains

The ASX 200 finished modestly higher today, but the headline gain masks another fairly mixed session. The index jumped ~50 points at the open following a strong lead from Wall Street and renewed enthusiasm around the AI trade and a drop in Oil prices, before handing back some of those gains as the day progressed.

The Match Out Market Matters 2
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The Fed and RBA have taken different paths in the last few years, but both have ultimately started tightening again. The Fed began 2024 with rates at 5.25%-5.5%, cut aggressively by a total of 175bps to 3.5%-3.75% by December 2025, then paused as inflation pressures returned before hiking 25bps to 3.75%-4.0% earlier this month. In contrast, the RBA waited until February 2025 to start cutting and delivered just 75bps of easing, taking the cash rate from 4.35% to a low of 3.60% by August 2025. It’s been hard work of late for local investors with higher interest rates and lower earnings growth:

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