The S&P/ASX 200 rallied 42 points or 0.61 per cent to its first four-day advance since early December. The index rose as high as 6934 in morning trade and closed at 6928, its strongest finish since last February.
What moved the market
The index has risen almost 190 points in four sessions as the dust settled after a month-long global inflation tantrum. A retreat in bond yields helped lift the ASX 200 out of a sideways trading pattern yesterday and extend that move this session.
Two of today’s best-performing sectors – REITs and I.T. – were among those hardest hit by ructions in bond markets. The yield on ten-year Australian bonds eased another three basis points this afternoon. The Reserve Bank yesterday reassured investors it did not expect to raise the cash rate until at least 2024. Read more…..
Chart of the Day
Dalio has spent the last few years studying economic cycles, and the rise and fall of various civilizations. He’s combed through all the economic data and essentially presented it via LinkedIn, in a series of posts called The Changing World Order. In today’s video we are going to focus on one particular portion of his series, a portion he labels as The Classic Toxic Mix.