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Afternoon report

The Match Out: ASX posts its best week in more than 9-months, Tech and Commodities support the rally

A weaker USD and a drop in local bond yields helped push the ASX to a 3-week high, crossing back above 7300 for the first time this financial year. Aussie 2-year bond yields fell back below 4% today for the first time in more than a month, supporting the risk-on attitude. Similar to the US market, tech was a standout today and led the sector performance for the week.
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The Match Out Market Matters
Afternoon report

The Match Out: US inflation miss lights up equities, Gold stocks a key beneficiary

Inflation, at least in the US, is quickly coming under control leading to a strong rally on the local market today. The broad-based rally saw more than 90% of the ASX200 close higher today, led by a strong rally in Real Estate on a day when all sectors closed up. China trade data also printed today with both imports and exports falling more than expected with a lower trade surplus adding to the view that China will ramp up its stimulus efforts.
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The Match Out Market Matters
Afternoon report

The Match Out: ASX ticks higher ahead of CPI, KMD Brands tumbles

Resilience was shown on the ASX again today, continuing the relief rally that kicked off yesterday. Commodity-linked stocks were once again the main focus with follow-through buying on the back of China’s support of their property sector. Energy was the key standout though thanks to signs that Russian production had started to slow and comments from the Saudis supporting the OPEC+ actions to stabilize oil markets. In a shift away from recent history, tech was the laggard on the local market today. All eyes will be on the US Inflation data due out at 10.30 pm tonight.
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The Match Out Market Matters
Afternoon report

The Match Out: Local shares show some ticker, Megaport (MP1) burns shorts

Strong resilience was shown on the local market starting on the front foot today but highlighted by consistent intra-day buying, grinding higher throughout the session to put on more than 100 points. Just 7% of the index closed lower with all sectors adding more than 0.5%. Just like the US market overnight, the small-cap index (S&P Small Ords) outperformed with a 2.14% jump today.
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The Match Out Market Matters
Afternoon report

The Match Out: ASX down 2% for the week as US 2-year bond yields crack 5%

The local market fell to levels not seen in 3 months today on the back of a swift turn higher in bond yields The local 10-year yield was up 15bps/~3.5% early on in the session, settling at 4.255% driving a shift away from risky assets. There was little appetite to add exposure on a Friday either, resigning the market to a ~200pt drop over the last 3 sessions. All sectors closed lower while the ASX200 closed down 2.24% for the week.
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The Match Out Market Matters
Afternoon report

The Match Out: ASX rallies as RBA sits pat, Private Equity picks off Costa Group (CGC)

A positive open for stocks before the index tracked lower ahead of the RBA decision on interest rates at 2.30 pm - no change to rates - the market rallied, particularly the financials and property stocks buoyed by some respite to cost of living pressures. About half of the professional forecasters had expected a hike, while interest rate futures were pricing a ~20% probability of a 0.25% move.
Read more
The Match Out Market Matters
Afternoon report

The Match Out: FY24 starts on the front foot, the dogs are starting to bark!

The first session of FY24 was a positive one for local stocks with the market grinding consistently higher throughout the day to close on session highs. There seemed to be an overarching trend today that saw some of the ‘FY23 dogs’ attract buying with the discretionary retailers the most obvious example at a sector level – perhaps confidence is growing around a ‘soft landing’ as inflation cools and central banks look to a least pause on rates.
Read more
The Match Out Market Matters
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Latest Reports

Afternoon report

The Match Out: US inflation miss lights up equities, Gold stocks a key beneficiary

Inflation, at least in the US, is quickly coming under control leading to a strong rally on the local market today. The broad-based rally saw more than 90% of the ASX200 close higher today, led by a strong rally in Real Estate on a day when all sectors closed up. China trade data also printed today with both imports and exports falling more than expected with a lower trade surplus adding to the view that China will ramp up its stimulus efforts.

The Match Out Market Matters
Afternoon report

The Match Out: ASX ticks higher ahead of CPI, KMD Brands tumbles

Resilience was shown on the ASX again today, continuing the relief rally that kicked off yesterday. Commodity-linked stocks were once again the main focus with follow-through buying on the back of China’s support of their property sector. Energy was the key standout though thanks to signs that Russian production had started to slow and comments from the Saudis supporting the OPEC+ actions to stabilize oil markets. In a shift away from recent history, tech was the laggard on the local market today. All eyes will be on the US Inflation data due out at 10.30 pm tonight.

The Match Out Market Matters
Afternoon report

The Match Out: Local shares show some ticker, Megaport (MP1) burns shorts

Strong resilience was shown on the local market starting on the front foot today but highlighted by consistent intra-day buying, grinding higher throughout the session to put on more than 100 points. Just 7% of the index closed lower with all sectors adding more than 0.5%. Just like the US market overnight, the small-cap index (S&P Small Ords) outperformed with a 2.14% jump today.

The Match Out Market Matters
Afternoon report

The Match Out: ASX slumps further, Ardent (ALG) impresses, and Strandline (STA) disappoints

The ASX saw the best of it early on Monday morning, initially rallying ~0.6%, looking to recover some of last week’s losses. Banks, miners and energy sectors supported the index before traders faded the strength throughout the rest of the session. The ASX200 settled at its lowest close since late March with the only shining light being the Tech sector.

The Match Out Market Matters
Afternoon report

The Match Out: ASX down 2% for the week as US 2-year bond yields crack 5%

The local market fell to levels not seen in 3 months today on the back of a swift turn higher in bond yields The local 10-year yield was up 15bps/~3.5% early on in the session, settling at 4.255% driving a shift away from risky assets. There was little appetite to add exposure on a Friday either, resigning the market to a ~200pt drop over the last 3 sessions. All sectors closed lower while the ASX200 closed down 2.24% for the week.

The Match Out Market Matters
Afternoon report

The Match Out: ASX rallies as RBA sits pat, Private Equity picks off Costa Group (CGC)

A positive open for stocks before the index tracked lower ahead of the RBA decision on interest rates at 2.30 pm - no change to rates - the market rallied, particularly the financials and property stocks buoyed by some respite to cost of living pressures. About half of the professional forecasters had expected a hike, while interest rate futures were pricing a ~20% probability of a 0.25% move.

The Match Out Market Matters
Afternoon report

The Match Out: FY24 starts on the front foot, the dogs are starting to bark!

The first session of FY24 was a positive one for local stocks with the market grinding consistently higher throughout the day to close on session highs. There seemed to be an overarching trend today that saw some of the ‘FY23 dogs’ attract buying with the discretionary retailers the most obvious example at a sector level – perhaps confidence is growing around a ‘soft landing’ as inflation cools and central banks look to a least pause on rates.

The Match Out Market Matters
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