Watching paint dry 🎨

Two-for-two to start the week although volumes were once again poor. Despite delivering another 50 basis point hike, the RBA’s assertion that rates are no longer low boosted sentiment at the margin. But let’s not kid ourselves. Reporting season is just around the corner and half the country seems to be on holidays, so things are little slower than usual. The lack of liquidity could explain the continued renaissance seen across last year’s laggards with Brainchip, Life360, WiseTech, ZIP and City Chic logging gains of 4.8% or more. By sector, energy and tech led the gains, rising 2.2% and 1.7% respectively. REITS didn’t fare so well, sliding 1.4%. The broader benchmark rose 0.25%, lifting 16.7 points to 6629.3.


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