Sunset Strip | Aussie Afternoon Institutional Market Wrap

Mathan Somasundaram

Market fell hard from the open on Italian vote going against the government before making a few recovery cycles to finish off the day’s lows. Austrians went with the plan to vote against the far right party while Italians have voted against the referendum to set the scene for more instability in the already shaky isles of EU. The Italian banks are the mess in the middle which will need substantial bailout. Germany and France et al are in no shape to deliver relief when they are facing their own election woes in 2017. Italy can only move to partial guarantee bank model when they leave EU. The US president elect is back into pre-election mode tweeting like a teenager and picking fights with China. China is being aggressively defensive while keeping the diplomatic options in play. US/China trade war will be detrimental to both their economies and the world in the process. For the full report… (VIEW LINK)


Comments

Please sign in to comment on this wire.