Sunset Strip | Aussie Afternoon Institutional Market Wrap

Aussie market Turn-bull and recovered more than yesterday’s losses with global sentiment while US Fed meeting hovers over global financial markets. History shows that US Fed will only update on Friday, but we are hoping that they put the global markets out of their misery a day earlier. Markets are expecting that the benign inflation, failing global growth and China slowdown will force US Fed to push back any rate change. If we do get a change, the Emerging Markets will get smocked and the flow on effects will hurt Australia as a commodity country. The big stock specific news was from small cap biotech BNO who reported positive data from BNC210 clinical trial and saw the stock pop up 12%....more to come for this stock as analyst upgrade. Media stocks and GNC were generally up again on M&A chatter with new government leadership expected to be more media friendly going into an election cycle and market expecting a Treasurer change. (VIEW LINK)