Monday Market Highlights: 13 November 2023

In this week’s Monday Market Highlights, Equity Trading Manager Will McVeagh discusses the RBA’s raising of the cash rate, and the surprising market reaction which saw stocks and rates rally, and the AU dollar fall. He looks into the RBA’s quarterly statement on monetary policy, which contained an update on the bank’s key forecasts. Will covers Fed Chair Jerome Powell’s speech at the IMF, and in equity news focuses on Xero’s first-half results, James Hardies’ second-quarter results, NZ company Main Freight’s reported results, and renewed interest in Telstra following a recent Opus outage.   This podcast is intended to provide general information only. It does not take into account your investment needs or personal circumstances. It is not intended to be viewed as investment or financial advice. Should you require financial advice you should always speak to a Financial Adviser. Past performance is not a reliable indicator of future performance. Milford is an active fund manager with views and portfolio positions subject to change.