Aussie market ran into unexpected ANZ cap raising and higher than expected unemployment and came out second best. Investors were selling the banks as the other three could be doing the same anytime soon as well as funding source for ANZ raising. The macro scene was not great with unemployment jumping from 6.1% to 6.3% on higher participation rate despite over 38,000 new jobs being created. We maintain our positive long term view on the yield trade (i.e. banks, div financials and telcos) while health care looks the best growth/currency story. But in the next few weeks we expect big miners (i.e. BHP and RIO) to outperform big banks. Despite the market strength of late, reporting season risk, RBA not cutting rates, Banks cap raising risk, US interest rate cycle, China slow down and Grexit uncertainties will keep the market on edge...we have failed to break 5700 convincingly after 3 goes in 2 months…stay nimble!!! (VIEW LINK)
2017 - Now > Blue Ocean (AUS) > Market Portfolio Strategist 2012 - 2017> Baillieu Holst (AUS) > Head of Strategy, Quant and Data Analytics 2009 - 2012 > Bell Potter / Southern Cross (AUS) > Head of Quant and Data Analytics 2007 - 2009 > LIM...
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