With investors anticipating rate cuts from the US Federal Reserve and Reserve Bank of Australia in 2024, the bombed out small-cap sector is being touted for big gains as risk appetite returns.
The S&P/ASX Small Ordinaries Index has dropped 23.3 per cent to 2708.6 points since the end of 2021 as the fastest interest rate tightening cycle in a generation erased confidence in a sector that feeds off animal spirits and the lure of huge returns.
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Tom Richardson writes and comments on markets including equities, debt, crypto, software, banking, payments, and regulation. He worked in asset management at Bank of New York Mellon and is a member of the CFA Society of the UK as a holder of the Investment Management Certificate. Connect with Tom on Twitter. Email Tom at tom.richardson@afr.com
