A choppy session with the ASX ultimately giving back ~50% of yesterday’s advance in part due to a hotter than expected monthly inflation print for May. Expectations were for +3.8% YoY vs 4.0% realised, which saw bond yields meaningfully higher (bonds sold) as the market priced in a greater chance of a rate hike in August (now 30%) & September (now 60%). Aussie 3-year yields were up 17.5bps settling at 4.10% which underpinned a 0.6% rise in the AUD to 66.86c, along with a quick 45pt sell-off for equities
A better vibe to the ASX today with the market opening mildly higher and grinding bottom left to top right throughout the session as consistent buying in the banks was supported by a bounce back in large cap resources, and when those two sectors fire, its an easy task for the ASX to put on a quick ~100pts, with all-time highs now only ~2% away.
A nervous start to the week for local stocks ahead of an important inflation print locally on Wednesday (monthly CPI exp +3.8%) while PCE Data, the US Feds preferred measure on inflation, is released on Friday. While there are some lingering concerns that inflation is remaining sticky, there was a number of stock specific events that knocked confidence today pushing 10/11 sectors into the red.
A quiet day at the index level with no lead from the US overnight. 7 of 11 sectors finished in the red, though more than 50% of stocks in the ASX 200 were up on the day. The big news was the success of the Guyman y Gomez (GYG) IPO, which came on the market at midday, and rallied 36% - the best major IPO in years.
A muted session with no trade in the US tonight, though it was pleasing to see (for MM) that some of the recently soft sectors found some love, in what has been a tough few weeks of relative performance for our active growth strategy. Banks succumb to some profit-taking after a great run, and one can’t help but think, does a buy resources, sell banks trade make sense for the active traders out there?
A good session for the ASX with solid buying across all sectors. While the Resources and Energy still lagged broader gains, there was some obvious buying of the dip in some pockets, though financials were still the main driver at the index level as CBA hit a new closing high (again)!
More of the same for the ASX today with the market remaining soft, particularly in China-facing sectors as weak data persists in the region. The RBA meet tomorrow to decide on rates, no change is expected from the 4.35% headline rate, and Michelle Bullock will likely remain consistent with her data dependency call.
A soggy way to end a choppy week for the ASX with the market trading in a relatively tight ~30 point trading range. An eclectic mix of performers today with around 65% of the ASX 200 trading lower, though some of the recently depressed names saw some bargain hunting.
A positive yet unconvincing session locally with the ASX easing off throughout the day, with weakness in Energy & Materials partially offsetting strength in IT, Healthcare & Property.
A better vibe to the ASX today with the market opening mildly higher and grinding bottom left to top right throughout the session as consistent buying in the banks was supported by a bounce back in large cap resources, and when those two sectors fire, its an easy task for the ASX to put on a quick ~100pts, with all-time highs now only ~2% away.
A nervous start to the week for local stocks ahead of an important inflation print locally on Wednesday (monthly CPI exp +3.8%) while PCE Data, the US Feds preferred measure on inflation, is released on Friday. While there are some lingering concerns that inflation is remaining sticky, there was a number of stock specific events that knocked confidence today pushing 10/11 sectors into the red.
A quiet day at the index level with no lead from the US overnight. 7 of 11 sectors finished in the red, though more than 50% of stocks in the ASX 200 were up on the day. The big news was the success of the Guyman y Gomez (GYG) IPO, which came on the market at midday, and rallied 36% - the best major IPO in years.
A muted session with no trade in the US tonight, though it was pleasing to see (for MM) that some of the recently soft sectors found some love, in what has been a tough few weeks of relative performance for our active growth strategy. Banks succumb to some profit-taking after a great run, and one can’t help but think, does a buy resources, sell banks trade make sense for the active traders out there?
A good session for the ASX with solid buying across all sectors. While the Resources and Energy still lagged broader gains, there was some obvious buying of the dip in some pockets, though financials were still the main driver at the index level as CBA hit a new closing high (again)!
More of the same for the ASX today with the market remaining soft, particularly in China-facing sectors as weak data persists in the region. The RBA meet tomorrow to decide on rates, no change is expected from the 4.35% headline rate, and Michelle Bullock will likely remain consistent with her data dependency call.
A soggy way to end a choppy week for the ASX with the market trading in a relatively tight ~30 point trading range. An eclectic mix of performers today with around 65% of the ASX 200 trading lower, though some of the recently depressed names saw some bargain hunting.
A positive yet unconvincing session locally with the ASX easing off throughout the day, with weakness in Energy & Materials partially offsetting strength in IT, Healthcare & Property.
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