Sunset Strip | Aussie Afternoon Institutional Market Wrap

Mathan Somasundaram

Deep Data Analytics

Aussie market blitzed the short sellers by delivering a big positive move to end the week despite the negative domestic data and global lead. The market is running on the expectations that the economy is likely to stall in low growth or worse. The budget announcements, consumer sentiment post budget, construction data and the latest business capex is driving the negative view while the government is expected to remain in a “no action and no risk” election mode till next year. Better get used to soft domestic economic data as this will be the trend for the next 12-18 months. Economist and Strategist will be falling over each other to call for rate cuts and negative bias from RBA after the construction data, consumer confidence and now business capex. RBA will go back to negative bias and likely to cut again for the sake of buffering more negative news over the next 12 months. (VIEW LINK)

Mathan Somasundaram
Founder & CEO
Deep Data Analytics

Over 30 years’ experience in the finance/tech industry. Mathan has worked extensively in all parts of the finance sector (i.e. County NatWest, Citi, LIM, Southern Cross, Bell Potter, Baillieu Holst and Blue Ocean Equities). Currently Founder and...

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