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Sunset Strip | Aussie Afternoon Institutional Market Wrap

Mathan Somasundaram

Aussie market started positive and went further north due to Resources optimism driven by China data, Oil optimism driven by potential Doha deal and the Financial optimism driven by US result season. After three consecutive negative weeks, we expected a bounce this week in like with the trend from the... Show More

Sunset Strip | Aussie Afternoon Institutional Market Wrap

Mathan Somasundaram

Aussie market started positive on global sentiment and remained there as the end of month and quarter rolled over. Aussie market is trading on synch with US market after US Fed moved to water down rate rise cycle and deflate the USD. US corporates are not seeing better growth outlook... Show More

Sunset Strip | Aussie Afternoon Institutional Market Wrap

Mathan Somasundaram

Aussie market started positive and finished positive despite wobbling around with weak China data and RBA keeping rates on hold. The Bank sector dividend yield to bond yield gap only reached these levels in 2008 and 2011 and both times the market bounced hard on yield trade. In an environment... Show More

Sunset Strip | Aussie Afternoon Institutional Market Wrap

Mathan Somasundaram

Aussie market started positive and then ran out of puff by the close to finish mainly flat. Gold sector remains key with rising market risk as the Spot Gold in USD creates a positive technical signal and Spot Gold in AUD remains in historical high levels. Latest data out of... Show More

Sunset Strip | Aussie Afternoon Institutional Market Wrap

Mathan Somasundaram

Aussie market moved up and down and finally finished mainly flat. There is enough negative news that can derail optimism in early March. The currency is holding up like a rock and we will need RBA to move on rates to get that down. It’s time to buy some gold... Show More

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Sunset Strip | Aussie Afternoon Institutional Market Wrap

Mathan Somasundaram

Aussie market started positive and then got hammered on bank selling before crawling back to a slight positive close. Save some gun powder as the market is likely to pull back in the first half of March unless RBA steps up and cuts interest rate proactively in March. We expect... Show More

Sunset Strip | Aussie Afternoon Institutional Market Wrap

Mathan Somasundaram

Aussie market started negative on commodity weakness and then ran into Yuan devaluation, weak wages growth and housing bubble worries that knocked the air out of it. PBOC again moved the peg down for Yuan and sent the market into worry mode on how far the devaluation will go. Iran... Show More

Sunset Strip | Aussie Afternoon Institutional Market Wrap

Mathan Somasundaram

Aussie market started positive before pulling back to finish negative on China Yuan devaluation and Oil price falling in Asia. PBOC moved the peg down for Yuan the most in six weeks while Oil started to pull back on Iran adding to oversupply worries. OPEC is still holding fire on... Show More

Sunset Strip | Aussie Afternoon Institutional Market Wrap

Mathan Somasundaram

Aussie market started positive with miners before banks joined in to push it even more to close just above the psychological 5000 mark. The morning strength in miners was due to recent strength in Iron Ore, but the main catalysts are post Chinee New Year re-stocking and some supply side... Show More

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Sunset Strip | Aussie Afternoon Institutional Market Wrap

Mathan Somasundaram

Aussie market pulled back with usual Friday profit taking as investors were not willing to carry risk into the weekend. The bounce with Oil took a breather as Saudi Arabia confirmed they were talking about freezing and not cutting supply. Non OPEC and OPEC countries will have to come up... Show More

Sunset Strip | Aussie Afternoon Institutional Market Wrap

Mathan Somasundaram

Aussie market started positive and then went on a rampant short covering run to deliver a strong positive finish after a weaker than expected unemployment data . The bounce was mainly driven by Oil recovery. Non OPEC players showing signs of working towards a deal with OPEC to first freeze... Show More

Sunset Strip | Aussie Afternoon Institutional Market Wrap

Mathan Somasundaram

Aussie market started weak and finished weak after showing some life in the middle of the day. Overnight market was giddy about the potential deal to freeze oil production at sky levels by the two main producers, but clarity soon prevailed and the deal need to see cuts and needs... Show More

Sunset Strip | Aussie Afternoon Institutional Market Wrap

Mathan Somasundaram

Aussie market started positive and finished even more positive on Chinese lending data despite a pullback in the middle on Japanese not moving on stimulus quickly. The Japanese are waiting to see the effects of negative rates before moving on more stimulus. China lending was on fire with New Year.... Show More

Sunset Strip | Aussie Afternoon Institutional Market Wrap

Mathan Somasundaram

Aussie market had a solid day on the optimism of global rebound. US markets are closed tonight while Japan had a big bounce and China did not collapse after returning post CNY. Japanese economy contacted faster in Q4 than expected while China had exports drop and imports drop even further... Show More

Sunset Strip | Aussie Afternoon Institutional Market Wrap

Mathan Somasundaram

Aussie market started negative and closed further down at the lows as global sentiment remains weak into the Valentine’s Day weekend. Let’s hope the markets don’t deliver a Valentine’s Day Massacre tonight in Europe and US. We still have China to come back on board next week and that could... Show More

Sunset Strip | Aussie Afternoon Institutional Market Wrap

Mathan Somasundaram

Aussie market started negative on market uncertainty before the shrinking bond yields pushed up the yield trade to deliver a solid positive day. Global markets went into last night with everyone wearing their “chicken little” suits screaming the “sky is falling”. The global markets were jumping on shadows. US Fed... Show More

Sunset Strip | Aussie Afternoon Institutional Market Wrap

Mathan Somasundaram

Aussie market started slightly negative and went south very quickly before halving the losses. US markets recovering to close nearly flat and solid CBA result in a tough environment offered hope for positive day but the global worry has the investors spooked. We saw the market move below long term... Show More

Sunset Strip | Aussie Afternoon Institutional Market Wrap

Mathan Somasundaram

Aussie market started negative and soon went very negative as the bank sector took a bashing in line with recent global bank selloff regarding fears in funding costs and liquidity. BOQ update today did not help to improve market sentiment on banks. US Fed’s Janet Yellen will deliver her semi-annual... Show More

Sunset Strip | Aussie Afternoon Institutional Market Wrap

Mathan Somasundaram

Aussie market started negative and fought back during the day to finish flat on the back of the big miners. The US market was negative after solid but below par job data over the weekend. Major indices DOWJON and SP500 went below 36mth MA while NASDAQ was trading on the... Show More

Sunset Strip | Aussie Afternoon Institutional Market Wrap

Mathan Somasundaram

Aussie market had another volatile start before moving slightly into positive territory by the end mainly due to Banks after that unbelievable unemployment data. ABS unemployment data is farcical. To put things into perspective, 58,000 new jobs in the past month means that on a population adjusted basis, we are... Show More