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Sunset Strip | Aussie Afternoon Institutional Market Wrap

Mathan Somasundaram

Market bounced hard on the news that FBI gave a clear run for the market preferred Democrat candidate for the US presidency. Every sector except gold had a bounce but market has ignored three key elements. When it comes to this US election, nothing can be discounted and nothing can... Show More

Sunset Strip | Aussie Afternoon Institutional Market Wrap

Mathan Somasundaram

Market resumed belting position and investors were not holding back ahead of the US election. Just about every sector was in the firing line and RBA flip flopping was never going to help sentiment. Our market has delivered negative returns for the 9 out of the last 11 days as... Show More

Sunset Strip | Aussie Afternoon Institutional Market Wrap

Mathan Somasundaram

Market took a break from taking a belting as the US futures turned positive during our lunch time. US Fed sat on the hands as expected while BOE expected to follow the no action camp. The macro risk of US elections has been weighing on the market. The market prefers... Show More

Sunset Strip | Aussie Afternoon Institutional Market Wrap

Mathan Somasundaram

Market took some punishment today ahead of the US Fed update. The macro risk of US Fed and BOE update before US elections have been weighing on the market. Small caps are down over 10% from the highs while large caps are down over 5%. The recent extra pain in... Show More

Sunset Strip | Aussie Afternoon Institutional Market Wrap

Mathan Somasundaram

Market gave up pretty much all the bounce we got yesterday on a low volume Melbourne Cup day when Australia goes MIA for a few hours and Victoria goes MIA for the whole day. The first stage of central banks download was done today with BOJ and RBA. As expected... Show More

Sunset Strip | Aussie Afternoon Institutional Market Wrap

Mathan Somasundaram

Market bounced back today after the worst weekly performance for four months. The local market has run into central bank worries, US election uncertainty, rising bond yields and weaker domestic consumer data. This week is all about Central Banks…RBA and BOJ on Tuesday while US Fed and BOE out on... Show More

Sunset Strip | Aussie Afternoon Institutional Market Wrap

Mathan Somasundaram

Market fell again on weak sentiment ahead of big macro weeks. The local market has had 3 consecutive negative days and 3 consecutive negative weeks to deliver the worst weekly performance since June. Aussie market looks to be taking the lead and moving lower ahead of the US market pullback.... Show More

Sunset Strip | Aussie Afternoon Institutional Market Wrap

Mathan Somasundaram

Market was once again taken to the cleaners as investors ran for safety ahead of the US market profit taking and central bank download next week. Aussie market looks to be taking the lead and moving ahead of the US market pullback. The substantial part of the downside risk is... Show More

Sunset Strip | Aussie Afternoon Institutional Market Wrap

Mathan Somasundaram

Market pretty much kept on falling all day as inflation data removed any faint hope of another rate cut in 2016. The rate cut hope was a fallacy as the last two rate cuts did not even remotely solve the inflation or the currency issue. We are heading into a... Show More

Sunset Strip | Aussie Afternoon Institutional Market Wrap

Mathan Somasundaram

Market popped up on the open with US positive sentiment and then traded sideways and choppy for the rest of the day. There is a bit of macro data out today….China data were solid while Canadian rates update, UK unemployment, US housing starts, US Fed beige book and the third... Show More

Sunset Strip | Aussie Afternoon Institutional Market Wrap

Mathan Somasundaram

Market ran up for the first half of the day on better risk appetite and stronger currency before spending the second half trading sideways. The data continues to support US Fed rate hike while US Fed commentary remains mixed between slightly hawkish to slight dovish. The US reporting season had... Show More

Sunset Strip | Aussie Afternoon Institutional Market Wrap

Mathan Somasundaram

Market closed negative ahead of a raft of macro data and US reporting season worries. The data continues to support US Fed rate hike while China data remains robust. The US reporting season had a good start with financials and that may continue with better rate cycle outlook. The local... Show More

Sunset Strip | Aussie Afternoon Institutional Market Wrap

Mathan Somasundaram

Market closed mainly flat on a very volatile and choppy day. Aussie market turned out a negative weekly return to break a three straight positive weekly run. Higher oil prices and better inflation outlook from China should help market sentiment, but the markets are concerned about US tonight. We have... Show More

Sunset Strip | Aussie Afternoon Institutional Market Wrap

Mathan Somasundaram

Market closed slightly positive on a volatile choppy day. We have a few Fed speeches to come tomorrow while the last one calmed the market on rate rise speed. FOMC minutes to come out tomorrow night while US reporting season also kicks off tonight with Alcoa. US market likely to... Show More

Sunset Strip | Aussie Afternoon Institutional Market Wrap

Mathan Somasundaram

Market opened positive and then sold down gradually to finish slightly positive. Our market was waiting to see the global reaction before moving positive. The US Fed move is now firmly in Dec. The US election worries are also subsiding as Republican candidate’s debate performance was not seen by either... Show More

Sunset Strip | Aussie Afternoon Institutional Market Wrap

Mathan Somasundaram

Market fell on the open with uncertain central bank outlook before trading sideways and choppy for the rest of the day. US job data tonight will be key catalyst short term. We remain of the view that we should see some economic weakness into the election while US Fed will... Show More

Sunset Strip | Aussie Afternoon Institutional Market Wrap

Mathan Somasundaram

Market kept the positive global momentum going all day. US jobless tonight and non-farm payroll tomorrow will be key catalysts to market’s perception of US Fed rate outlook. We remain of the view that we should see some weakness into the election while US Fed will continue to move towards... Show More

Sunset Strip | Aussie Afternoon Institutional Market Wrap

Mathan Somasundaram

Market fell on the open with global markets and then made a slight recovery before trading sideways for most of the second half of the day. We see the worries are overblown and the market will work through these short term panic selloffs. Despite the panic today, the local market... Show More

Sunset Strip | Aussie Afternoon Institutional Market Wrap

Mathan Somasundaram

Market started negative before staging a big recovery to positive territory was deflated by the RBA non-action in the afternoon. RBA was never going to cut rates today and the market is back looking at quality value yields. The local market is now eyeing 3rd straight positive week and we... Show More

Sunset Strip | Aussie Afternoon Institutional Market Wrap

Mathan Somasundaram

Market fell on the open with Euro bank worries before making a decent recovery to halve the losses for the day. The market delivered second positive week to finish the month/quarter after five consecutive weeks of negative returns. DB was leading the Euro trash worries and this was not the... Show More