Afternoon trading November 15

Thanks @shovel40, @Fiji1, @Patterns and morning crew.

Half-time wrap:

Aussie shares flew to their highest in eight weeks after positive US inflation figures appeared to rule out another rate hike this year - and perhaps next year, as well.

The ASX 200 soared 100 points or 1.43% to 7107.

The most rate-sensitive sectors of the market set the pace as traders bet US rates have likely reached a top. Real estate investment trusts surged 4.2%, tech stocks 3% and gold miners 3%.

Property fund managers Centuria Capital, Charter Hall and HMC Capital gained between 7.8% and 10.3%.

Today's rally followed the S&P 500's biggest advance since April after both headline and core inflation measures came in weaker than expected last month. The S&P 500 jumped 1.91%. Futures pricing on "no change" at next month's Federal Reserve meeting hit 100% overnight. The odds on rate cuts by May doubled. Treasury yields fell sharply.


Personal trading: Caught the initial rebound in KAR for 10 pips and had the good fortune to be on the sidelines when the trading halt came (a cap raise, according to the AFR). Wanted AZL a pip lower. Took MTC too early, but it's on the mend.