Share price, page-520

Did anyone else check out the FOMC press release on Thursday? Jerome Powell made some dovish (I'd say chicken-ish) comments which sent the USD into an instant 3% slump against the AUD, which I expect will reverse itself once Lemming Lowe follows Jerome Powell's lead. The short term implication of this is that our steady price since Feb 2 should be interpreted as a 3% gain, because we are overwhelmingly a USD stock with a share price quoted in AUD.

The other thing that was hugely significant is that if the Fed is going to pivot (which now seems likely) then that means that inflation is going to get worse, not better and that the US federal government's largesse is going to continue for that much longer. I think that we are moderately hurt by inflation, but we are massively helped by government largesse, so overall, this should be a pretty big positive for us.

The pivot would also dramatically reduce the probability of the bear case for SLX, which is mainly based on the macroeconomic environment becoming hostile.

Overall, it may not seem like much happened in the past few days, but I think that our prospects just improved. Yet again.