Tip toe, go slow 🦶
A quiet, cautious session that ended with modest gains. But after the carnage we’ve seen recently, we’ll bank it. Most sectors finished higher, led by REITS, healthcare, staples and tech which added more than 1.5%. A big rally in bonds, seeing 10-year Aussie yields slice through 4% like a hot knife through butter, contributed to strength in long duration names. Lake Resources tumbled another 16.7%, seeing it halve in value since being admitted to Australia’s benchmark share index last week. The lithium play decided to release an update to the market at 3.59pm, a minute before close. The broader index rose 0.31%, adding 19.9 points to close at 6528.4.
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