Three forces behind the ASX’s record-breaking streak
The market’s little gains are adding up to something serious as investors’ belief that a soft landing has been achieved takes the ASX 200 to a new record high every other day.
There’s something almost mesmerising about the ongoing rally on Australia’s equity market.
This isn’t a spectacular surge, but a sort of tradesman-like grind, as investors shrug off consistent slices of indifferent news – a data point that suggests rate cuts could be delayed, so-so corporate earnings or this week’s decidedly tepid GDP print – to take the benchmark ASX 200 to a new record high every other day.
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James Thomson is senior Chanticleer columnist based in Melbourne. He was the Companies editor and editor of BRW Magazine. Connect with James on Twitter. Email James at j.thomson@afr.com
