Sunset Strip | Aussie Afternoon Institutional Market Wrap

Mathan Somasundaram

Deep Data Analytics

Aussie market started very positive before dropping 2.5% from the intra-day high to the low while still managing to recover some losses at the close. The optimism on the open was driven by better commodity prices and rebound in the US markets. But as we alluded to yesterday, the US markets are stuck in a precarious technical position with growth worries and local investors were not going to take a big bet going into the weekend. As expected the market saw profit taking despite US rebound and the same sentiment was played out through Asia. US markets are at the end of the second longest bull market in the past 80 years. Our market remains close to fair value with no premium for the substantial yield premium but global uncertainties remains high. As we wrote at the end of December, “GREED IS GOOD, BUT PROFIT IS BETTER” …short term buy cycle is close, but the question is what is happening in the US markets. There is no need to rush. Time to wait and see and react!!! (VIEW LINK)


Mathan Somasundaram
Founder & CEO
Deep Data Analytics

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...

I would like to

Only to be used for sending genuine email enquiries to the Contributor. Livewire Markets Pty Ltd reserves its right to take any legal or other appropriate action in relation to misuse of this service.

Personal Information Collection Statement
Your personal information will be passed to the Contributor and/or its authorised service provider to assist the Contributor to contact you about your investment enquiry. They are required not to use your information for any other purpose. Our privacy policy explains how we store personal information and how you may access, correct or complain about the handling of personal information.