I’m just a sales guy. For what it’s worth, I think we are seeing a rotation globally out of high PE stocks to more defensive assets. Probably going to take even more pain in anything that the market has a high premium on such as Tech! Globally it has been under pressure for the last 12 months. I believe the ARK ETF is down about 60/70% in the last year. Russia/Ukraine is tanking the immediate market but there may be a bit more pain to come on March 11th when the Fed meet. Consensus is that they will hike .25pbs but I’ve also read reports that they may go .50bps which will certainly put more pressure on. I think the bond market is pricing in 40-50bps for the next t 12 months and we have definitely turned the corner and are now in a hiking cycle. I don’t think the RBA will or can move in line with the Fed due to current property prices in AUS.
AAU Price at posting:
8.3¢ Sentiment: Buy Disclosure: Held
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