A twist of fortune?

The Federal Reserve's Operation Twist fiscal program is building the case for an equities rally.

PORTFOLIO POINT: SMSF trustees and investors should steer clear of government bonds. Recent action by the Fed to buy US treasuries will not be enough to drive up the bond market.

Now is not the time to lift cash and bond holdings

I’m always nervous giving short-term tactical advice because I don’t think that is a good way to invest.

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