Sunset Strip | Aussie Afternoon Institutional Market Wrap

Mathan Somasundaram

Deep Data Analytics

Aussie market started negative on Grexit and Chiquities scare and then climbed the wall of worry to a positive day before collapsing under profit taking pressure at the close. Grexit risk is now a non-event. For the global markets, the key worry is that if EU offers a good deal to Greece then the rest of the austerity gang will line up for “what about me?”. The fact that Greece played chicken with EU and eventually folded will work in EU’s favour. Greece has set the scene for the rest of the austerity gang to play by EU rules or get nothing. Chiquities are seeing another day of stable trading, but this is far from resolved. But you can be certain that in a managed economy, equity markets can also be managed up despite challenges. The market was lead down by Resources while Banks closed slightly negative. There are a lot of macro coming out this week from China GDP to US Fed comments to Euro growth outlook….stay nimble!!! (VIEW LINK)

Mathan Somasundaram
Founder & CEO
Deep Data Analytics

Over 25 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.


Please sign in to comment on this wire.

trending on livewire
Get the best of Livewire by signing up to our popular daily newsletter