{"id":18186,"date":"2019-05-10T23:52:18","date_gmt":"2019-05-10T23:52:18","guid":{"rendered":"http:\/\/thepatientinvestor.com\/?p=18186"},"modified":"2019-05-10T23:52:18","modified_gmt":"2019-05-10T23:52:18","slug":"asx-200-and-the-banks","status":"publish","type":"post","link":"https:\/\/thepatientinvestor.com\/index.php\/2019\/05\/10\/asx-200-and-the-banks\/","title":{"rendered":"ASX 200 and the Banks"},"content":{"rendered":"<p>The ASX 200 retreat below support level at 6350 has been gentle, with a long tail indicating that buying support remains. The Trend Index likewise shows only a moderate decline. Respect of support at 6000 would be a bullish sign.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2018\/2019-05-10-xjo.png?w=525&#038;ssl=1\" alt=\"ASX 200\" \/><\/p>\n<p>Financials are the largest sector, comprising 32.1% of the ASX 200 according to <a href=\"https:\/\/au.spindices.com\/indices\/equity\/sp-asx-200\">S&amp;P Indices<\/a>. Retracement has so far been gentle and respect of the new support level at 6000 would be a bullish sign.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2018\/2019-05-10-xfj.png?w=525&#038;ssl=1\" alt=\"ASX 200 Financials\" \/><\/p>\n<p>Apart from a declining housing market and the RBNZ call for more than $8 billion in additional equity capital (<a href=\"https:\/\/www.theage.com.au\/business\/banking-and-finance\/mess-for-australian-banks-isn-t-getting-cleaned-up-this-earnings-round-20190422-p51g6b.html\">estimated by S&amp;P Global Ratings<\/a>), the four major banks face declining margins.<\/p>\n<p>Net Interest Income (as % of Total Assets) has rallied since 2015 but remains in a long-term down-trend, with a projected average of 1.7%. Fee income (right-hand scale) has declined to below 0.50% of total assets, while other income (RHS) fluctuates around 0.20%.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2018\/2019-05-10-banks-income.png?w=525&#038;ssl=1\" alt=\"Banks Income as % of Total Assets\" \/><\/p>\n<p><em>Source: APRA &#8211; Major Banks<\/em><\/p>\n<p>If we compare income to operating expenses, the gap between non-interest income (fees, commissions &amp; other income) and operating expenses is widening. Combined with declining net interest margins and increasing capital requirements, the heady days of strong profit growth may be nearing an end.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2018\/2019-05-10-banks-ie.png?w=525&#038;ssl=1\" alt=\"Banks Income &amp; Expenses as % of Total Assets\" \/><\/p>\n<p><em>Source: APRA &#8211; Major Banks<\/em><\/p>\n<p>I am cautious of Australian banks, more because of the headwinds they face over the next two years than the long-term outlook, but declining margins do not help. We hold more than 40% in cash and fixed interest in the <a href=\"https:\/\/thepatientinvestor.com\/index.php\/2018\/07\/03\/australian-growth-portfolio\/\">Australian Growth<\/a> portfolio.<\/p>\n<p>Materials (the second largest sector at 18.1%) are undergoing a modest correction. Respect of support at 12500 would be a bullish sign. Declining Money Flow peaks, however, warn of strong selling pressure and a test of 12000 remains likely.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2018\/2019-05-10-xmj.png?w=525&#038;ssl=1\" alt=\"ASX 200 Materials\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The ASX 200 retreat below support level at 6350 has been gentle, with a long tail indicating that buying support remains. The Trend Index likewise shows only a moderate decline. Respect of support at 6000 would be a bullish sign. Financials are the largest sector, comprising 32.1% of the ASX 200 according to S&amp;P Indices. &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/thepatientinvestor.com\/index.php\/2019\/05\/10\/asx-200-and-the-banks\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;ASX 200 and the Banks&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[40,31,57],"tags":[251,381,1397,2439],"class_list":["post-18186","post","type-post","status-publish","format-standard","hentry","category-australia-nz-countries-regions","category-the-fed-banks-interest-rates","category-stock-markets","tag-asx-200","tag-banks","tag-financials","tag-net-interest-margins"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.1 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>ASX 200 and the Banks - the patient investor<\/title>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"ASX 200 and the Banks - the patient investor\" \/>\n<meta property=\"og:description\" content=\"The ASX 200 retreat below support level at 6350 has been gentle, with a long tail indicating that buying support remains. The Trend Index likewise shows only a moderate decline. Respect of support at 6000 would be a bullish sign. Financials are the largest sector, comprising 32.1% of the ASX 200 according to S&amp;P Indices. &hellip; Continue reading &quot;ASX 200 and the Banks&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/thepatientinvestor.com\/index.php\/2019\/05\/10\/asx-200-and-the-banks\/\" \/>\n<meta property=\"og:site_name\" content=\"the patient investor\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/profile.php?id=61572934660810\" \/>\n<meta property=\"article:author\" content=\"https:\/\/facebook.com\/people\/The-Patient-Investor\/61572934660810\/\" \/>\n<meta property=\"article:published_time\" content=\"2019-05-10T23:52:18+00:00\" \/>\n<meta property=\"og:image\" content=\"http:\/\/static.incrediblecharts.com\/images\/2018\/2019-05-10-xjo.png\" \/>\n<meta name=\"author\" content=\"Colin Twiggs\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Colin Twiggs\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2019\\\/05\\\/10\\\/asx-200-and-the-banks\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2019\\\/05\\\/10\\\/asx-200-and-the-banks\\\/\"},\"author\":{\"name\":\"Colin Twiggs\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/#\\\/schema\\\/person\\\/d42b18d516a80149d739845749ac6454\"},\"headline\":\"ASX 200 and the Banks\",\"datePublished\":\"2019-05-10T23:52:18+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2019\\\/05\\\/10\\\/asx-200-and-the-banks\\\/\"},\"wordCount\":277,\"publisher\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2019\\\/05\\\/10\\\/asx-200-and-the-banks\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.incrediblecharts.com\\\/images\\\/2018\\\/2019-05-10-xjo.png\",\"keywords\":[\"ASX 200\",\"banks\",\"Financials\",\"net interest margins\"],\"articleSection\":[\"Australia &amp; NZ\",\"Banks &amp; Interest Rates\",\"Stock Markets\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2019\\\/05\\\/10\\\/asx-200-and-the-banks\\\/\",\"url\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2019\\\/05\\\/10\\\/asx-200-and-the-banks\\\/\",\"name\":\"ASX 200 and the Banks - the patient investor\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2019\\\/05\\\/10\\\/asx-200-and-the-banks\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2019\\\/05\\\/10\\\/asx-200-and-the-banks\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.incrediblecharts.com\\\/images\\\/2018\\\/2019-05-10-xjo.png\",\"datePublished\":\"2019-05-10T23:52:18+00:00\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2019\\\/05\\\/10\\\/asx-200-and-the-banks\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2019\\\/05\\\/10\\\/asx-200-and-the-banks\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2019\\\/05\\\/10\\\/asx-200-and-the-banks\\\/#primaryimage\",\"url\":\"https:\\\/\\\/www.incrediblecharts.com\\\/images\\\/2018\\\/2019-05-10-xjo.png\",\"contentUrl\":\"https:\\\/\\\/www.incrediblecharts.com\\\/images\\\/2018\\\/2019-05-10-xjo.png\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2019\\\/05\\\/10\\\/asx-200-and-the-banks\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/thepatientinvestor.com\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"ASX 200 and the Banks\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/#website\",\"url\":\"https:\\\/\\\/thepatientinvestor.com\\\/\",\"name\":\"The Patient Investor\",\"description\":\"Smart. 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Unfiltered. \",\"publisher\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/thepatientinvestor.com\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/#organization\",\"name\":\"The Patient Investor Pty Ltd\",\"url\":\"https:\\\/\\\/thepatientinvestor.com\\\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/#\\\/schema\\\/logo\\\/image\\\/\",\"url\":\"https:\\\/\\\/i0.wp.com\\\/thepatientinvestor.com\\\/wp-content\\\/uploads\\\/2026\\\/03\\\/cropped-cropped-patience-bg-1-inverted-400x400-1.png?fit=250%2C250&ssl=1\",\"contentUrl\":\"https:\\\/\\\/i0.wp.com\\\/thepatientinvestor.com\\\/wp-content\\\/uploads\\\/2026\\\/03\\\/cropped-cropped-patience-bg-1-inverted-400x400-1.png?fit=250%2C250&ssl=1\",\"width\":250,\"height\":250,\"caption\":\"The Patient Investor Pty Ltd\"},\"image\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/#\\\/schema\\\/logo\\\/image\\\/\"},\"sameAs\":[\"https:\\\/\\\/www.facebook.com\\\/profile.php?id=61572934660810\",\"https:\\\/\\\/www.instagram.com\\\/colin_thepatientinvestor\"]},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/#\\\/schema\\\/person\\\/d42b18d516a80149d739845749ac6454\",\"name\":\"Colin Twiggs\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/29a4e13250381b203ea835108c2d5eee4947439713c271ae5ba60afb53194432?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/29a4e13250381b203ea835108c2d5eee4947439713c271ae5ba60afb53194432?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/29a4e13250381b203ea835108c2d5eee4947439713c271ae5ba60afb53194432?s=96&d=mm&r=g\",\"caption\":\"Colin Twiggs\"},\"description\":\"Colin Twiggs is a former investment banker with almost 40 years of experience in financial markets. He founded PVT Capital (AFSL number 546090), which provides income and growth strategies to wholesale clients. Colin also co-founded Incredible Charts and writes the popular Patient Investor newsletter. Using a top-down approach, Colin identifies macro trends in the global economy and then combines fundamental and technical analysis to evaluate opportunities in sectors that stand to benefit. Focusing on interest rates and financial market liquidity as primary drivers of the economic cycle, he warned of the 2008\\\/2009 and 2020 bear markets well ahead of actual events.\",\"sameAs\":[\"https:\\\/\\\/facebook.com\\\/people\\\/The-Patient-Investor\\\/61572934660810\\\/\",\"https:\\\/\\\/www.instagram.com\\\/colin_thepatientinvestor\",\"https:\\\/\\\/au.linkedin.com\\\/in\\\/colintwiggs\"],\"url\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/author\\\/investor\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"ASX 200 and the Banks - the patient investor","robots":{"index":"noindex","follow":"follow"},"og_locale":"en_US","og_type":"article","og_title":"ASX 200 and the Banks - the patient investor","og_description":"The ASX 200 retreat below support level at 6350 has been gentle, with a long tail indicating that buying support remains. The Trend Index likewise shows only a moderate decline. Respect of support at 6000 would be a bullish sign. Financials are the largest sector, comprising 32.1% of the ASX 200 according to S&amp;P Indices. &hellip; Continue reading \"ASX 200 and the Banks\"","og_url":"https:\/\/thepatientinvestor.com\/index.php\/2019\/05\/10\/asx-200-and-the-banks\/","og_site_name":"the patient investor","article_publisher":"https:\/\/www.facebook.com\/profile.php?id=61572934660810","article_author":"https:\/\/facebook.com\/people\/The-Patient-Investor\/61572934660810\/","article_published_time":"2019-05-10T23:52:18+00:00","og_image":[{"url":"http:\/\/static.incrediblecharts.com\/images\/2018\/2019-05-10-xjo.png","type":"","width":"","height":""}],"author":"Colin Twiggs","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Colin Twiggs","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/thepatientinvestor.com\/index.php\/2019\/05\/10\/asx-200-and-the-banks\/#article","isPartOf":{"@id":"https:\/\/thepatientinvestor.com\/index.php\/2019\/05\/10\/asx-200-and-the-banks\/"},"author":{"name":"Colin Twiggs","@id":"https:\/\/thepatientinvestor.com\/#\/schema\/person\/d42b18d516a80149d739845749ac6454"},"headline":"ASX 200 and the Banks","datePublished":"2019-05-10T23:52:18+00:00","mainEntityOfPage":{"@id":"https:\/\/thepatientinvestor.com\/index.php\/2019\/05\/10\/asx-200-and-the-banks\/"},"wordCount":277,"publisher":{"@id":"https:\/\/thepatientinvestor.com\/#organization"},"image":{"@id":"https:\/\/thepatientinvestor.com\/index.php\/2019\/05\/10\/asx-200-and-the-banks\/#primaryimage"},"thumbnailUrl":"https:\/\/www.incrediblecharts.com\/images\/2018\/2019-05-10-xjo.png","keywords":["ASX 200","banks","Financials","net interest margins"],"articleSection":["Australia &amp; NZ","Banks &amp; Interest Rates","Stock Markets"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/thepatientinvestor.com\/index.php\/2019\/05\/10\/asx-200-and-the-banks\/","url":"https:\/\/thepatientinvestor.com\/index.php\/2019\/05\/10\/asx-200-and-the-banks\/","name":"ASX 200 and the Banks - the patient investor","isPartOf":{"@id":"https:\/\/thepatientinvestor.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/thepatientinvestor.com\/index.php\/2019\/05\/10\/asx-200-and-the-banks\/#primaryimage"},"image":{"@id":"https:\/\/thepatientinvestor.com\/index.php\/2019\/05\/10\/asx-200-and-the-banks\/#primaryimage"},"thumbnailUrl":"https:\/\/www.incrediblecharts.com\/images\/2018\/2019-05-10-xjo.png","datePublished":"2019-05-10T23:52:18+00:00","breadcrumb":{"@id":"https:\/\/thepatientinvestor.com\/index.php\/2019\/05\/10\/asx-200-and-the-banks\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/thepatientinvestor.com\/index.php\/2019\/05\/10\/asx-200-and-the-banks\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/thepatientinvestor.com\/index.php\/2019\/05\/10\/asx-200-and-the-banks\/#primaryimage","url":"https:\/\/www.incrediblecharts.com\/images\/2018\/2019-05-10-xjo.png","contentUrl":"https:\/\/www.incrediblecharts.com\/images\/2018\/2019-05-10-xjo.png"},{"@type":"BreadcrumbList","@id":"https:\/\/thepatientinvestor.com\/index.php\/2019\/05\/10\/asx-200-and-the-banks\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/thepatientinvestor.com\/"},{"@type":"ListItem","position":2,"name":"ASX 200 and the Banks"}]},{"@type":"WebSite","@id":"https:\/\/thepatientinvestor.com\/#website","url":"https:\/\/thepatientinvestor.com\/","name":"The Patient Investor","description":"Smart. 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He founded PVT Capital (AFSL number 546090), which provides income and growth strategies to wholesale clients. Colin also co-founded Incredible Charts and writes the popular Patient Investor newsletter. Using a top-down approach, Colin identifies macro trends in the global economy and then combines fundamental and technical analysis to evaluate opportunities in sectors that stand to benefit. Focusing on interest rates and financial market liquidity as primary drivers of the economic cycle, he warned of the 2008\/2009 and 2020 bear markets well ahead of actual events.","sameAs":["https:\/\/facebook.com\/people\/The-Patient-Investor\/61572934660810\/","https:\/\/www.instagram.com\/colin_thepatientinvestor","https:\/\/au.linkedin.com\/in\/colintwiggs"],"url":"https:\/\/thepatientinvestor.com\/index.php\/author\/investor\/"}]}},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p9tQ4n-4Jk","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":27213,"url":"https:\/\/thepatientinvestor.com\/index.php\/2021\/08\/06\/asx-bull-stampede\/","url_meta":{"origin":18186,"position":0},"title":"ASX bull stampede","author":"Colin Twiggs","date":"August 6, 2021","format":false,"excerpt":"The ASX 200 rallied this week despite a sharp fall in iron ore prices and a third wave in the pandemic. Rising Trend Index troughs above zero signal strong buying pressure. Third Wave Daily new COVID-19 cases continue to climb. Failure to halt the rise would cause a significant contraction\u2026","rel":"","context":"In &quot;Australia &amp; NZ&quot;","block_context":{"text":"Australia &amp; NZ","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/australia-nz-countries-regions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":26528,"url":"https:\/\/thepatientinvestor.com\/index.php\/2021\/06\/26\/asx-short-term-bearish-long-term-bullish\/","url_meta":{"origin":18186,"position":1},"title":"ASX short-term bearish, long-term bullish","author":"Colin Twiggs","date":"June 26, 2021","format":false,"excerpt":"The ASX 200 is retracing to test support at 7000 but Trend Index troughs above zero indicate longer-term buying pressure. Respect of support is likely and would confirm a fresh advance. Financial Markets Rising bond ETFs (BOND, IAF & VAF) signal weakening long-term interest rates. Low rates buoyed A-REITs and\u2026","rel":"","context":"In &quot;Australia &amp; NZ&quot;","block_context":{"text":"Australia &amp; NZ","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/australia-nz-countries-regions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":17909,"url":"https:\/\/thepatientinvestor.com\/index.php\/2019\/02\/25\/asx-200-buoyant-but-banks-a-worry\/","url_meta":{"origin":18186,"position":2},"title":"ASX 200 buoyant but banks a worry","author":"Colin Twiggs","date":"February 25, 2019","format":false,"excerpt":"The Materials sector (18.5% of the ASX 200 index) continues its advance, buoyed by a temporary iron ore shortage and positive spin on US-China trade talks. The higher trough on Twiggs Money Flow below confirms buying pressure. ASX 200 Financials (31.4% of the main index) are testing resistance at 5900\/6000\u2026","rel":"","context":"In &quot;Australia &amp; NZ&quot;","block_context":{"text":"Australia &amp; NZ","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/australia-nz-countries-regions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":24411,"url":"https:\/\/thepatientinvestor.com\/index.php\/2021\/03\/06\/asx-hesitant-2\/","url_meta":{"origin":18186,"position":3},"title":"ASX hesitant","author":"Colin Twiggs","date":"March 6, 2021","format":false,"excerpt":"Bond ETFs continue to get hammered by rising long-term interest rates. A-REITs are retracing to test their new resistance level at 1400. Respect is likely, given rising long-term yields, and would confirm the target of 1200. The steepening yield curve, with widening net interest margins, is bullish for commercial banks.\u2026","rel":"","context":"In &quot;Australia &amp; NZ&quot;","block_context":{"text":"Australia &amp; NZ","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/australia-nz-countries-regions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":26046,"url":"https:\/\/thepatientinvestor.com\/index.php\/2021\/05\/29\/asx-bullish-banks-and-miners\/","url_meta":{"origin":18186,"position":4},"title":"ASX: Bullish banks and miners","author":"Colin Twiggs","date":"May 29, 2021","format":false,"excerpt":"The ASX 200 is testing resistance at 7200 after a bullish narrow consolidation. A Trend Index trough above zero indicates buying pressure. Upward breakout is likely and would signal a fresh advance. Financial Markets Bond ETFs continue to test resistance, suggesting that long-term interest rates are weakening. Inflation is muted\u2026","rel":"","context":"In &quot;Australia &amp; NZ&quot;","block_context":{"text":"Australia &amp; NZ","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/australia-nz-countries-regions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":24542,"url":"https:\/\/thepatientinvestor.com\/index.php\/2021\/03\/13\/asx-still-hesitant\/","url_meta":{"origin":18186,"position":5},"title":"ASX still hesitant","author":"Colin Twiggs","date":"March 13, 2021","format":false,"excerpt":"Bond ETFs found support this week as long-term interest rates weakened. A-REITs are testing their new resistance level at 1400. Respect is likely if long-term yields continue to recover, and would confirm a target of 1200. Financials retraced to test short-term support at 6000, largely as the result of a\u2026","rel":"","context":"In &quot;Australia &amp; NZ&quot;","block_context":{"text":"Australia &amp; NZ","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/australia-nz-countries-regions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/18186","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/comments?post=18186"}],"version-history":[{"count":1,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/18186\/revisions"}],"predecessor-version":[{"id":18187,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/18186\/revisions\/18187"}],"wp:attachment":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/media?parent=18186"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/categories?post=18186"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/tags?post=18186"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}