The title for Monday’s report over the last fortnight has been “Here comes the bounce – 1 & 2” and the ASX200 has delivered on the index level albeit in a slow and choppy manner with major stock/sector rotation unfolded beneath the hood – investors are swinging their attention between focusing their fears on either rising inflation/bond yields or an imminent recession. On Friday night strong US employment data saw an expected rally in bond yields which initially sent US stocks lower but it was encouraging for the short-term bulls like MM that they ground back to close unchanged setting the stage for a firm open by local stocks this morning.
