ASX 200 closed up 23 points at 7123 (0.3%). For the week it has fallen 23 points from 7145. A better day all around with Banks better led by ANZ up 0.8% and WBC rising 0.3%. The Big Bank Basket up $164.10 (0.1%). Insurers firmed slightly and fund managers better.  REITs were mixed after the drubbing yesterday with GMG bouncing 1.1% on the tech rally. Tech stocks back in favour with WTC up 2.6% and XRO up another 2.7% with the All-Tech Index up 0.8%. Even Old Skool tech, REA and CAR rallied up 0.8% and 2.6% respectively. Consumer stocks had an end-of-week bounce, ALL up 1.5% and TLC +1.4% in demand.  DMP up 1.1% as some short covering held. Resources were firm, iron ore miners up again, BHP up 1.3% and RIO up 0.5% with lithium stocks making some headway, MIN up 0.9% and IGO up 2.5%. Gold miners better too, NST up % and EVN rising %. Oil and gas going nowhere and coal flat.

In corporate news, some board changes at FMG, banks have passed on the rate increase quickly. Just not to deposit holders.

On the economic front, economists jumping over themselves to predict higher and higher rates and CBA downgraded GDP and increased odds of a recession. In Asia, Chinese PPI dropped substantially. Asian markets in the green, Japan up 1.8%, HK up 0.2% and China flat again. Dow futures down 66 Nasdaq down 4.

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