The US Federal Reserve cut rates from 2.0% to 1.5%. Gee, not much more room for improvement is there? Might end up like Japan with zero percent. That worked a treat didn't it. Could see a bounce tonight before reality sets in again. The ASX party didn't last long when we cut rates, this won't be any different in terms of a sustainable and meaningful rally. Reality really bites!
futures up, page-30
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