Sunset Strip | Aussie Afternoon Institutional Market Wrap

Aussie market delivered a big positive day with Greek deal optimism and better than expected unemployment data. The risk still remains with the bond market as the yields keep rising. The big positive performances were led by TRG (up 12%), SGN (up 9%), BCI (up 8%), BRU (up 7%), FMG (up 6%), RIC (up 6%), LNG (up 6%), GBT (up 6%), SGF (up 6%), TGS (up 6%), IFN (up 6%) and KAR (up 5%). The big negative moves were led by BDR (down 5%) and SPK (down 4%). Banks and the big miners lead the market higher while we saw a lot of short covering pushing up a number of small to mid cap stocks. The market had a feel of pressure release, but stay nimble as Greece/EU deal is never a sure thing and bond yields are still heading higher. (VIEW LINK)