re: **interest rate summation****
For the reasons that I went into at length last night (1/12 on the DOW thread), rates will remain on hold tomorrow.
One of the main themes today has been the strength being shown in company profits during the September quarter. And yet, upon closer analysis, the profits referred to actually relate back to activity in the preceding 6-12 months.
Going forward, an increasing number of companies are now issuing flat, to down-graded profit guidance.
For the last 12 months, corporate profits have boomed. But that's historical. Going forward, they will not be booming - not with where the currency now is.
So, again, rates on holding for this and all of the reasons made in the following posts: ASX - by stock DOW re: **futures going sick!!*** down 180 points 01/12/03 23:12 ASX - by stock DOW re: **futures going sick!!*** down 180 points 01/12/03 23:05 ASX - by stock DOW re: **futures going sick!!*** down 180 points 01/12/03 22:05
