Afternoon market report with the Australian market running out of steam into the weekend:
- Local market ran out of steam as US rate cycle and US political uncertainties started to weigh on sentiment as the weekend rolls in.
- Health Care and Resources weighed on the market while Gold stocks were the bright light.
- US politics continues to raise risk while US economic data remains strong. US Dollar index fell overnight and boosted Gold.
- US Fed updates are in play for the next month (1) Chair Janet Yellen continues her Semiannual Monetary Policy Report to the Congress tonight (2) Minutes from last month’s FOMC meeting will be released on the 22nd (3) FOMC’s next meeting on 14/15th March.
- Commodity prices outlook remains robust as China continues to keep the credit expansion and inefficient producer shutdown going.
- Mining Services sector remains cheap exposure to resource sector…recovery story in play as the unexpected commodity cycle recovery in 2016 will start to show solid cashflow in miners and support better capex outlook.
- China credit growth driving commodity and asset price recovery…
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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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