ASX 200 powers to a 5-month high of 7378 up 120 (1.7%) as the Fed delivers in time for a very happy Xmas. A leap this morning on the open following the dot plots and the Q&A session. Bond yields tumbled with the Australian 10-year yield back to 4.12%. Financials, REITs rallied hard, the Big Bank Basket at $187.00(+1.1%), CBA leading the charge higher but MQG had a great day up 3.5% together with other financials. Insurers slid a little on lower yields, but REITs took off too. GMG up 3.0% and SCG up 3.9%. Industrials and tech doing well, TCL rallying another 1.4% on lower rates, TLS up 1.8% and tech giants XRO and WTC all doing nicely nicely. The All-Tech Index up 2.1%. Healthcare in a strong place, CSL up 1.6% and RMD up 1.9%. Resources played catch up, iron ore majors in demand. All-time highs across the board, RIO, FMG and BHP if you add back the WDS. Gold miners soared after a couple of down days. NST rebounding 8.1% and GMD up 5.1%. Lithium stocks were the stand out as a short squeeze and perhaps a change in sentiment dragged the buyer back in. PLS up 8.6% and LTR rallying with LRS the standout. Oil and gas doing ok on a slightly higher oil price, WDS up 0.5% and KAR up 1.6%. In corporate news, some takeover action in small caps, VHT up 41.3% and WSP under siege with a 57c offer. GMD bought some gold projects off Kin Mining. VEA got the nod to acquire the OTR group, AWC jumped 8.7% on WA approvals, PAN called in the administrator. On the economic front, unemployment rose slightly to 3.9% with an increase in 61500 jobs created. Asian markets mixed, Japan down 0.9%, China up 0.3% and HK bouncing 1.1%. 10-year yields 4.11%

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