Sunset Strip | Aussie Afternoon Institutional Market Wrap

Aussie market maintained the positive momentum from yesterday and global market’s overnight to deliver another solid performance with all the big boys delivering. As I write this note Chiquities has fallen from +0.5% to -2.2% in a flash. China remains the great unknown and that is likely to remain the case for a while yet. We remain confident that PBOC will stabilise the markets, but will hurt growth through sentiment. US Fed delivered nothing much new and remained with the same rhetoric of saying not much while pointing to global growth issues and strong currency. The risk in the banking sector with APRA move is driving flow of money from banks to resources ahead of the results due to lack of any better risk/return/size option. (VIEW LINK)