As long as DJI holds 12,000, XAO should be ca 4500-5000 IMHO.
Have a look at a normalised XAO/DJI overlay over the past 5 years. BIG divergence over past 6 months or so. Points to either a rally for us, or for a big fall on US markets with us being relatively buffered IMO.
Time will tell...
reserve release, page-44
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