Stocks back in style

The ASX seems to be in the midst of a rally that may gain traction on expectations of a rate cut.

After much wailing and gnashing of teeth, is the S&P/ASX200 Index in the midst of a minor rally? Since June 25 the index has gained 4.9% after falling 11% between May 20 and June 25. Concerns about the ending of monetary stimulus in the US and increasing evidence the Chinese economy is slowing have been trumped by expectations of easier monetary conditions at home. Combined with a weaker currency – the Australian dollar has dropped 13% since April 11 – that may help underpin economic growth.

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