EPISODE · Jun 14, 2022 · 13 MIN
That hurt 🤕
from The COB from ausbiz
There’s not much left to say other than it was ugly. The largest percentage decline since May 2020, leaving the Australia’s blue chip index at the lowest level since January 2021. We’re now down 12.3% from the highs struck earlier this year. On a day when Australian benchmark 10-year bond yields jumped above 4% on speculation of faster and larger rate hikes, long duration sectors understandably struggled. Tech fell 4.5%, healthcare 2.6% while REITs fell 3.3%. Winners were few and far between. Only five managed to finish higher on the 200, the largest coming from Polynovo which increased 6.1% on the back of no news. The S&P/ASX 200 slumped 3.55%, losing 246 points to finish at 6686.Our top three VODs:Five small caps putting the pedal to the metalWill Australia follow the Fed?American bears roar Hosted on Acast. See acast.com/privacy for more information.
What this episode covers
There’s not much left to say other than it was ugly. The largest percentage decline since May 2020, leaving the Australia’s blue chip index at the lowest level since January 2021. We’re now down 12.3% from the highs struck earlier this year. On a day when Australian benchmark 10-year bond yields jumped above 4% on speculation of faster and larger rate hikes, long duration sectors understandably struggled. Tech fell 4.5%, healthcare 2.6% while REITs fell 3.3%. Winners were few and far between. Only five managed to finish higher on the 200, the largest coming from Polynovo which increased 6.1% on the back of no news. The S&P/ASX 200 slumped 3.55%, losing 246 points to finish at 6686.Our top three VODs:Five small caps putting the pedal to the metalWill Australia follow the Fed?American bears roar Hosted on Acast. See acast.com/privacy for more information.
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That hurt 🤕
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