Sunset Strip | Aussie Afternoon Institutional Market Wrap

Aussie market delivered another negative day on solid $6.7b turnover on falling commodity price and rising bond yields. The US data continues to suggest that the rate rise in US will be delayed to Sep as we have been assuming. The latest Greece news suggests that there will be a last minute deal and that should see yields pull back. Market is once again close to 5600 level where we see the yield weighted fair value for the market. Time to BUY Banks (NAB, ANZ), Telecoms (TLS, SPK, AMM, VOC, MTU) and Healthcare (ANN, CSL, RHC, SRX)…Banks expected to outperform Big Miners short term…more return than risk now!!! (VIEW LINK)