Market kept the positive global momentum going all day. US jobless tonight and non-farm payroll tomorrow will be key catalysts to market’s perception of US Fed rate outlook. We remain of the view that we should see some weakness into the election while US Fed will continue to move towards a Dec rate hike. ECB hinted that they may start to taper QE slightly from the end of the current QE program ending early 2017. ECB may be hinting, but with Brexit in play and Italian referendum to leave EU in early Dec means that ECB is more likely to extend QE program than curb it by early 2017. Since there has been no data improvement after the raft of downgrades put through last month by US Fed, the probability of a rate rise before the US elections are very low at best. We see the worries are overblown and the market will work through these short term panic selloffs. Despite the recent panic, the local market is still in line to deliver 3rd straight positive week!!! (VIEW LINK)
2017 - Now > Blue Ocean (AUS) > Market Portfolio Strategist 2012 - 2017> Baillieu Holst (AUS) > Head of Strategy, Quant and Data Analytics 2009 - 2012 > Bell Potter / Southern Cross (AUS) > Head of Quant and Data Analytics 2007 - 2009 > LIM...
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