No reason to buy, so the market is falling further

Nothing inspiring happened last week. Confidence of the market in the Federal Labor Government is being eroded by its tinkering with the tax rules with there being concern about what else the new kids on the block might try on. Disharmony within the ranks also leaves us wondering. Interest rates are rising according to expectations. US markets are soft. There seems to be no reason to buy the market at present, so it is falling. Shares price movements testify to the fact that the market is in a selling mode now.

The news of a potential collapse of a regional US bank SVB is not helping the mood. On Friday it caused a 2.3% fall in the S&P/ASX 200 index. The Dow Jones Index fell another 1.07% on Friday's trading, pointing to our market opening lower on Monday. While the tech-focused SVB is not a major player, it did provide a reason for the bears to become more aggressive last week.

No company coverage this week. 

 WeeklyComm11March2023.pdf