End of Day - Fri 29 Oct

• The ASX 200 took a tumble today as the bond market crumbled after the RBA went missing again and let rates soar. 
• The ASX 200 fell 107 points to 7324 (1.4%) finishing the week down 2.1%. Short-dated yields hit 0.68% and 10-year yields went through 2% closing at 2.04%. Big moves and potential a big change. Tuesday will be interesting around the RBA board room table before the Bet with Mates session begins. The banks got whacked, MQG raising $1.5bn too not helping, the Big Bank Basket fell to $187.20 (2.1%) and the insurers dropped too led by QBE down 2.2% and IAG off 2.8%. REITS hit hard too, GMG off 2.0%, SCG down 3.2% and MGR down 3.8%.
•  Industrials also under pressure with WOW down 1.8%, TCL off 1.8% and WES down 2.2%. Tech stocks falling too, APT down 0.4% dragging the All-Tech Index down 1.3%. Miners were surprisingly only modestly lower, BHP dropped 1.2% and FMG only 0.6% off. Gold miners eased back and energy stocks lower but lithium and battery tech still in demand ahead of COP26 and Biden’s environmental plans.
•  In corporate news, MQG in a trading halt pending a $1.5bn capital raise to accompany strong results, too many opportunities it seems to pass up. HT1 rose 31.3% on ATO settlement, VUL returned after attack and dropped heavily by 16.5% and PBH continued to track lower by 4.4%. RMD produced some good results and innovative ways to beat supply chains issues and rose 4.2%. On the economic front, it was all about the RBA and the bond yields, retail sales came in better than expected but no one was watching. Asian markets mixed again.

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