Sunset Strip | Aussie Afternoon Institutional Market Wrap
Aussie market went against the pre-market SPI and delivered 5th straight positive day with Staples, Banks and Telstra leading the way. Market is up 5.3% in five days with yield, currency and M&A stocks predominantly leading the fight back. US Fed is trying to organise an unscheduled meeting tonight (confirmed by BBC) and it may flag a move higher tonight. A move tonight by US Fed is unlikely as they are a stickler to timetables, but given the global uncertainties, their window might not be open in a week or two. It makes logical sense for them to move ASAP and remove that uncertainty. Any move by US Fed and setting the scene for a prolonged normalisation is very positive for the markets as it gives certainty to move forwards. AUDUSD has been very resilient but a move by US Fed may bring that down and drive some global investor selling. (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...