Asian stocks rebound, but well off their highs, responding to the FED rate cut in the US. The up markets have not recovered losses from just the prior day. Asian markets are also having a tough start, down 15% this year. US markets are pulling back with Dow futures trading down 100, an early indication that tomorrow will see continued declining markets in the US.
An Australian analyst just said they were forecasting a 1 1/4% interest rate cut for this year. If the FED cuts 50 basis points next week, they would not have any ammunition for the rest of the year.
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