The ASX has rallied in early trade with the All Ordinaries Index (tracking the 500 biggest companies) rising 1.2%:
The ASX 200 is up 1.4%:
With the gains driven by a 2.4% rebound in financials:
However, the consumer discretionary sector remains in the toilet, down 0.2%:
Based on current levels, the All Ordinaries Index is now trading around 30% below its 20 February peak.
Leith van Onselen is Chief Economist at the MB Fund and MB Super. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.
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Macro Morning
By Chris Becker The return of Wall
Macro Afternoon
A solid up day here in Asia despite the lack
Australian dollar flies as stocks price to infinity
It's all fun and games into the news void today
Macro Morning
By Chris Becker Even a closed Wall
short selling to be banned? QE? why financials
Financials??? Ha! The punters are on a hiding to nowhere with that play!
people not spending
but online shoppnig
Wonder what the effect on JB HiFi etc will be
Waiting for my Dominic 8896.99 cheque so I can get a hot buy 55″ Smart TV from Good Guys
Little Missus’ cheque into the offset
Some for new golf clubs for her
New iMac for her photog business
Stimulating!
You guys must have a Government/State Super Fund, or the like, who’ve been told to support the market at 5,000.
It’s a Greek tale. 4 handle Scotty won’t be able to escape his fate. Prolly when China opens.. M
Or not 😬
Dont panic, it will only be a short lived bounce…all will be well again with the sell off coming back…
Macquarie (ASX:MQG), we have a problem
Maybe MQG didn’t make the shortlist for Government Stimulus or “too big to fail” status???
With MQG highly exposed to the USA and just falling under $100.. holders are taking profits while they can.
I am gonna likem when they get below $20 like the GFC
can someone explain why VGS is basically flat for the week when global stock markets are down 20% in the same period of time
It’s unhedged, so with our dollar going down, VGS goes up. VGAD is hedged, so AUD currency impact is taken out.
ASX up. Only explanation. St Patricks Day. Everyone drunk and hugging leprechauns.