Sunset Strip | Aussie Afternoon Institutional Market Wrap

MELBOURNE CUP PICKS: The best three risk/return picks we came up with were Criterion, Our Ivanhowe and Gust of Wind. The final result showed our top pick made no 3 on the podium while the first female jockey to win the Melbourne Cup broke a few glass ceilings and records along the way. There is nothing more Australian than winning the great race that stops the nation, breaking records, winning against the great odds and then telling the established hierarchy to go shove it. Prince of Penzance and Michelle Payne are going to be remembered for the right reasons for a very long time!!! Aussie market started positive with global trend and then found more gusto after RBA left the rates unchanged. As we expected, recovering business credit, property bubble and holding unemployment against low inflation and low growth meant that RBA can afford to wait and see. The banks and TLS were back in favour as the global investors who were selling on currency worry after bad China data and RBA rate cut will now reverse the trade. (VIEW LINK)