Market jumped higher on the back of US market bounce while overall macro concerns remain. There were clear signs that short covering popped the market from the open before rising tide raised all sectors into positive territory. Global macro remains uncertain with new US leadership policy settings delivering contradictory and murky outlook. The latest update from the President elect clearly states that TPP is dead as far as US is concerned. China and Japan are urging the rest of the countries to move to sign the deal even if US is not in the game. If there is any trade/relationship debasement, expect China to offload US treasury and push yields and USD higher. US can’t win a trade war with China. Time will tell where the new leadership takes the current equilibrium. US market continues to ignore fiscal policy uncertainty, higher yields, stretched valuations and strong currency. Today’s performance was mainly driven by Resources with falling USD and yields to support local market. For the full report… (VIEW LINK)