RBA Cuts Rates... We Fall... | CBA & WOW Disappoint.... | IIN "Battle" Heats Up... |

Good Afternoon, You gotta love this job….. RBA cuts interest rates to the lowest on record and US markets up 180 points, we fall……… US market falls 0.5% last night, we fall 100+ points…. How can we win this game? What worries us is that we all know that next week’s federal budget is going to be “very poor”… surely this is factored in? So why the sell off? The XJO is currently 90 points lower.. ouch… ouch… ouch…. as CBA leads another plunge in the banks and Woolies (WOW) is punished after posting a fall in quarterly sales. The rest of the big banks are also copping it, with NAB 1.63 per cent lower, Westpac (WBC) 2.24 per cent and even ANZ, down 0.44 per cent. Wesfarmers (WES) is 0.61 per cent lower down. Telstra (TLS) is not enjoying the swirling worries that the relentless drive towards yield may be abating, with the shares 1.49 per cent lower. An interesting chart with regard to how investors fall out of love with bank shares is shown below. Niv