Sunset Strip | Aussie Afternoon Institutional Market Wrap

Mathan Somasundaram

Deep Data Analytics

Aussie market held up better than expected due to banks given the global macro worries such as Greece exit from EU and US Fed putting up rates. The bond market showing some form of stability despite the macro worries. The argument being thrown around is that most of the Greek debt is in the Greek banks and EU QE will clean that out in case of emergency or Grexit. We still remain of the view that both Greece and EU will come up with a rolling medium term agreements to keep kicking the can down the road and the latest media coverage seems to support that. We still remain very negative on the domestic economy, employment outlook and property prices. Banks held the market from falling further while gold sector saw selling on potential US rate rise hope. AMM and VOC merger got the go ahead despite TPM efforts and Burson bought the auto division from Metcash. It’s a waiting game to see what happens in Greece tonight and then US Fed comments on Thursday morning. (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...

I would like to

Only to be used for sending genuine email enquiries to the Contributor. Livewire Markets Pty Ltd reserves its right to take any legal or other appropriate action in relation to misuse of this service.

Personal Information Collection Statement
Your personal information will be passed to the Contributor and/or its authorised service provider to assist the Contributor to contact you about your investment enquiry. They are required not to use your information for any other purpose. Our privacy policy explains how we store personal information and how you may access, correct or complain about the handling of personal information.


Sign In or Join Free to comment