The Match Out: ASX pulls back from highs, still has a strong week

The ASX pulled back from recent highs today on some profit-taking after a solid week. Better news on the inflation and interest rate front propelled equities to all-time highs in the US & UK, and a whisker below all-time highs locally, as the narrative around a soft landing, or no landing at all, continues to gain traction. Interest rate sensitive sectors have had a great week, and fading the moves that played out in April has certainly been the trade to back, while it looks like BHO may walk away from a deal to buy Anglo at this point, underpinning a relief rally in our biggest local index weight. All in all, investors made money this week, we’ll take it, and as always, concentrate on what could come next! Manly vs Broncos tonight – Go the Mighty Sea Eagles!

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