steadfast began failing to live up to its name on the share market first thing yesterday morning when stories appeared on the ABC website foreshadowing last night's allegations on four corners that the company had been misleading its clients at 10:30 yesterday morning it had fallen 6% SO trading was paused at 7:30 last night the company put out a statement steadfastly refuting the allegations and then trading resumed at 11:30 this morning with the price another 11% lower which is roughly where end of the day otherwise it was quite a good day with both Commonwealth Bank and mcari hitting new record highs in fact Bank shares generally in Australia and worldwide have been soaring since the great fed pivot of October last year when the US Central Bank made it clear it wasn't interested in having a recession now it's taken a year for those words to turn into action but there'll be a rate cut next week the only question is how big us share market meanwhile is having wild mood swing it doesn't know whether to be happy about the forthcoming rate cut or sad about the slowing economy yesterday it was 1.7% sad today it was 1.2% happy Commodities were mostly happy today oil iron or copper and gold all went up and the Aussie dollar stayed beamed at 66.7 us cents and finally a graphic entry into the argument about Australia's smashing Reserve Bank it shows the extent to which each country's policy rate is above the neutral rate which is the interest rate that neither contracts nor stimulates the economy so the RBA is actually the world's least smashing Central Bank and that means it will lag the others in cutting as well and that's Finance