Sunset Strip | Aussie Afternoon Institutional Market Wrap
Aussie market recovered some of the losses from yesterday on low volume. Global market fear indices are showing signs of fading pessimism and rising optimism. Australia will continue to see global investors sell on currency worry while local investors buy on yield support. The domestic market outlook remains negative while the recent leadership change showing signs of more policy debate than just political infighting. The economy needs a rescue plan or run the risk of stagflation. We have been of the view that 2016 was danger territory for the property market since early 2014. The problem for the new leadership is to move quickly from orators to deliverers. The school holidays period has started and that brings low volume trading days as retail investors take over from the institutional investors. We remain of the view that the market will see buying support on yield thematic around the 5000 fair value level. The sector performances show that all sectors apart from miners were in the positive territory today. Next update Monday Oct 12 > Holiday Season (VIEW LINK)
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...