end of day plus chart, page-7

i'm putting odds on a surge in the AUD thinking Ben will trash 10yrTs... that'll cause a rush into US equities as well, leading to a maybe medium term surge in the DOW (et al)... but when you look at how slow and sceptical our All Ords are, we will be like minnows late to catch the ripple again - and PRR in the absence of an announcement, will trail further behind in the upswings slipstream...

but our financials will shoot strong if the 10Ts get trashed - it's all about curve shaping for US housing folks, the last vestage of available (now dead) demand that the Fed can try to regulate inflation over, if they can get long term expectations on interest under control, for housing, for instance - and if Ben does throw the trip on 10Ts, banks may be forced back on the road to becoming real bankers again, that is, lending to real people... someday


good luck