Back to basic (materials) 🧱

It's been a tussle all week long between the value plays (banks and miners) and the tech stocks. Today, it was a day for the materials with that sector up more than 1.4%. Healthcare and IT were among the laggards while the S&P/ASX 200 VIX fell like a stone following its Wall Street equivalent. The local market finished on a two-month high - up 0.4%. Australian three-year government bond yields scaled a fresh three-year peak of 2.25% in the session, the highest since May 2018. Even more remarkable, markets now expect the RBA to hike six times this year. Regionally, Chinese markets continue to struggle with the Hang Seng down more than 1.5% as of writing. Our top three VODs: Gaurav can't speak highly enough of this small cap Five undervalued US stocks to buy: Morningstar Charts to KISS (keep it simple, stupid) Hosted on Acast. See acast.com/privacy for more information.