Sunset Strip | Aussie Afternoon Institutional Market Wrap

Mathan Somasundaram

Aussie market started negative on the global sentiment, weaker results and CBA going ex div before recovering back to flat territory on the back of the resources. The global markets are in a confused state as indices reach stretched valuation levels on low interest rates. The latest weak inflation data on top of weak GDP data means that FOMC will not be moving in Sep despite jawboning by Fed presidents and strong Job market in the US… IT PAYS TO TAKE ON THE FED!!! Apart from the FOMC update and a massive day in local reporting season, we will get another ABS job market update and that should show unemployment holding while underemployment continuing to worsen. THERE ARE MORE THAN 20 STOCKS REPORTING TOMORROW....GET READY FOR VOLATILITY!!!Interesting moves of the day…....…. (VIEW LINK)


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