Sunset Strip | Aussie Afternoon Institutional Market Wrap

Mathan Somasundaram

Market fell hard to pretty much unwind all the gains from yesterday’s big bounce ahead of EU break up worries. The US president elect is moving back into reality star mode and threatened US corporates with tariffs to keep them from moving jobs outside US. The reality is that the jobs are mainly disappearing due to technology in manufacturing and that has been going on since the 80’s. The decline in jobs has become an issue now due to lack of new industries and major leaps in technology. EU’s fail model will get tested again on the weekend with Italian referendum and Austrian election. EU’s inability to add a fiscal link to the monetary link means that the model was flawed and the inequality will be its downfall. The best performers today was Gold sector while everyone was in negative territory. BAL got smashed today after following BKL with downgrade on China issues. GNC stake held by ADM was offloaded….takeover premium will soon come out of this stock. For the full report… (VIEW LINK)


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