mtr

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 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 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

Aussie market outperformed expectations to deliver a flat day when the rest of the world was stuck in negative sentiment. Aussie market has now delivered five straight positive days…eight positive days out of the last nine. The central banks have now removed themselves from the risk category while the US... Show More

Sunset Strip | Aussie Afternoon Institutional Market Wrap

Mathan Somasundaram

Aussie market was smashed in line with global markets as the yield squeeze from ECB taking the foot off QE and potential US Fed rate hike worry took its toll. Aussie 10 year bond yield popped above 2% after nearly 3mth. Bond markets were going through a yield squeeze after... Show More

Sunset Strip | Aussie Afternoon Institutional Market Wrap

Mathan Somasundaram

Aussie market jumped on the open and then traded sideways. The market sentiment was still lacked conviction despite weak US employment data. Market was expecting 180,000 while the data came in at 151,000. We did warn that historically August non-farm payroll is weak and the smart money had it around... Show More

Sunset Strip | Aussie Afternoon Institutional Market Wrap

Mathan Somasundaram

Aussie market fell on the open with US Fed rate hike worries and tried unsuccessfully to make a recovery for the rest of the day while WES and WPL trading ex div added to the negative performance. There is no macro risk bigger than US Fed putting up rates. The... Show More

Sunset Strip | Aussie Afternoon Institutional Market Wrap

Mathan Somasundaram

Aussie market held up in the positive territory before global selling pressure took the market down in the second half of the day to close down. The main sectors like financials and resources were in the negative territory as USD strengthened while staples, commercial services, property and utilities were the... Show More

Sunset Strip | Aussie Afternoon Institutional Market Wrap

Mathan Somasundaram

Aussie market fell on the open and then recovered on the back of the banks as currency trade before moving sideways for the rest of the day. The resources were mixed with miners taking the negative lead from overseas markets while oil recovery erased the losses in the energy sector.... Show More

Sunset Strip | Aussie Afternoon Institutional Market Wrap

Mathan Somasundaram

Aussie market popped on the open with banks leading the charge on the hope of higher interest rates and then gave some of the gains through the day. The US job data on Friday raised hope of higher interest rates in US and that helped to push up financials. Despite... Show More

Sunset Strip | Aussie Afternoon Institutional Market Wrap

Mathan Somasundaram

Aussie market delivered a solid positive day on the back of the banks, health care and staples while commodities risk did not take down resources as much as expected. That’s 13 positive days out of 17 trading days in July. The Aussie market was mainly driven by the rate cut... Show More

Sunset Strip | Aussie Afternoon Institutional Market Wrap

Mathan Somasundaram

Aussie market started negative before having a decent relief rally. Brexit has shaken things up in the market and it will remain negative short term for UK and Euro. UK will now move into leadership transition in the ruling party and the main opposition. The leadership change will take a... Show More

Sunset Strip | Aussie Afternoon Institutional Market Wrap

Mathan Somasundaram

Aussie market opened positive and then went on with it after a slight pullback as Brexit worry started to subside. The market is beginning to move away from Brexit as the momentum to leave seems to have lost momentum after last week’s tragedy. We have seen the low in AUDUSD... Show More

Sunset Strip | Aussie Afternoon Institutional Market Wrap

Mathan Somasundaram

Aussie market jumped up on the weak US job data removing rate rise risk and then gave up some of the gains through the day. US Fed Chair only flagged a rate rise in June/July last week and one negative employment data point should not change the economic picture dramatically... Show More