Sunset Strip | Aussie Afternoon Institutional Market Wrap

Mathan Somasundaram

Deep Data Analytics

Aussie market started negative before substantial buying support for the banks came out of the left field and drove the market higher even before RBA came out with a rate cut. It was almost like some big investors knew there was a rate cut coming or were willing to take a massive bet on the banks after two shocking results. The question needs to be asked why ANZ moved from -2% to +3% before the RBA rate decision. Budget tonight will get a lot of airplay for scratching everything and not solving anything. The budget is there to get the incumbent government re-elected with a least amount of damage. It will touch everything, promise to save the world and deliver no change to drive growth. Time to be patient and pick the time to buy-in or add more exposure…maintain medium to long term view > long Yield and Gold, short Iron Ore and Oil. May has historically been a negative month. (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...

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