Big move up in the DOW last night, but US bond returns still dropping. And the bond market as you know is big. Was it a fake move? A sucker rally?
RBA dropped the rate. I think it was too early. Mrs Market went meh. It actually dropped a little after the announcement. Maybe it was brought down by the banks. I took the opportunity to buy some BBOZ; 10k at around 10.03.
The big four banks passed on the rate cut faster than I have ever seen before. If that doesn’t make you nervous, I don’t know what does......
Let’s see what Mrs Market does overnight. Never a dull moment! How are you going?
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