Market fell from the open on global macro uncertainty before making a recovery to half the losses. The rising yields, historical high USD and relatively low volatility indices are pointing to high risk of profit taking driven by the US market. The global markets are likely to remain volatile and choppy with outlook uncertainties. Rising yields will drive down asset valuations and support profit taking in markets. RBA and IMF raised concerns about the local property bubble…and yet government continues to support developers over households. Rising rates against falling rental yields…investors are going into negative relative return territory for property investments!!! Time to be nimble in an uncertain global macro!!! For the full report… (VIEW LINK)


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