Book that European trip - there’s not much worth sticking around for.
That’s the mood on equities desks, as institutional investors sit on their portfolios causing trading volumes to tank and brokers to start thinking about holidays.Less than $4 billion worth of Australian shares changed hands on Monday, which would be a shockingly quiet day in early January let alone in the middle of the year, in what was the quietest day’s trade in 2022 to date.
Tuesday’s RBA meeting could see fundies back trading, but it feels like there’s considerable uncertainty beyond the central bank’s decision that could take some shifting. Old heads say it’s all about valuation uncertainty, and will take more than one RBA meeting to clear.
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