•  The ASX 200 climbed another 52 points to 7464 (0.7%) to be only around 2% from its all-time high. The budget looms and banks shone again with the Big Bank Basket up to $190.63 (0.4%). CBA running 0.2% and WBC up 1.1% as bond yields continue higher, now 2.91% in the 10s. MQG doing well too gaining 1.4% and Insurers slightly higher. Healthcare bounced as the AUD fell below 75c, CSL up 1.4% and RMD up 4.1%. Industrials firmed, WES up 1.8%, TLS up 1.6% and ALL up 2.6%. REITs up again despite higher rates, Tech also in demand as SQ2 up 6.8% with its bitcoin exposure helping, XRO up 3.3% and WTC better by 3.7%. The All -Tech Index up 2.6%. Miners mixed, iron ore and energy stocks eased, BHP down 0.6% and STO off 0.3% with WPL down 1.1%. Gold miners fell a little but rare earths and lithium stocks once again very firm. PLS up 1.6%, LYC up 3.1% and SYA up 6.8%. 
• In corporate news, NEA soared 16.6% on an update on its ACV, UWL down 1.7% as an increased bid from Morrison’s at 500c saw off the Macquarie competition. TLX and LKE had positive announcements and Blackstone got approval to buy CWN from FIRB. Sigh of relief all around. Plenty happening in economic news ahead of the budget with retail sales beating expectations up by 1.8% to be 9.1% ahead of last year. Asian markets mixed and 10-year yields 2.91%. 

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