Sunset Strip | Aussie Afternoon Institutional Market Wrap

Aussie markets delivered a big positive day against expectations after WPL decided have a go at OSH and force the market to look at the underlying fundamental value of the business we were selling down. Shangbang is positive and we may be seeing the index experience valuation support as the multiples are now near the mid-teens. Mix of government policies on survival mode and corporate low risk approach will see the domestic growth outlook sleep walk to recession fears. US markets come back on line after the day off and looks to be going positive. The resource sector overall should get a bit of positive momentum from the WPL bid on OSH. The market was lead higher by the Big Banks and the Big Miners while OSH was on top. We are likely to range trade till we get clarity on US Fed move. We have a bit employment data domestically and China inflation coming on Thursday, so we should have a decent day tomorrow with all things being equal. (VIEW LINK)