The ASX endured a tough session on Friday, although the 1% recovery throughout the afternoon offered some hope for the bulls, with the “Big Four Banks” leading the bounce. For example, NAB and ANZ both reversed early steep losses of between 2.5% and 3% to end the session on their highs and in positive territory. However over the week, it was Macquarie’s downgrade of the banks and further weakness in iron ore names which weighed most on the index, which ended the tough 5-days down -2.25%.
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Really bullish, there's more to go in the reflation rally
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