The markets in general and banks in particular are up today, apparently because of Chinese rate easing. Yet, Asian markets are down. Our own oil sector is up sharply- consistent with an uptick from China- yet the main oil blends are down today.
No, I do not understand markets. I have taken profits on 3 of the big 4. If I have taken profits too early then- too bad. Perhaps I was silly in selling now that the worst of tax loss selling is over. I might get it right one day.
The RBA minutes did not make me think that banks should rally. What would I know? Inflation high for longer was the gist. They acknowledged the perils of unemployment- to make the government happy before they get bullied again in the Senate.
Stay tuned.
IMHO DYOR
Yield, page-12
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