Just look at the AUD, its breaking out, which means "risk on". There's your reason why the market is piling back into risky nasdaq stocks. The market thinks 6 months ahead. The US has had peak inflation and the market is now expecting peak interest rates very soon. That's why the ECB hiked rates by 50 bpts despite cracks appearing in their banks. Its probably their last chance to raise rates before the fed pauses.
Just look at the AUD, its breaking out, which means "risk on"....
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Last
7,742.7 |
Change
-24.800(0.32%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| 7,767.5 | 7,767.5 | 7,710.3 |
| XJO (ASX) Chart |