Stott: Cup day cut to be supportive for equities in the short-term
Chris Stott from Wilson Asset Management sees that “fear seems to be dissipating” from the equity market in the last few weeks. Stott sees the recent bounce combined with the potential Fed hike being pushed out into the next calendar year helping the short-term fortunes of equity markets. In an event that will add to this short-term support for equities in Australia Stott is of the view that the RBA will cut in November. As of the close on the 19th, 30 day interbank cash rate futures were pricing a 38% chance of a Melbourne Cup day RBA cut. For investors who are also interested in recent Australian IPO’s and the IPO pipeline watch the video below to hear Chris’ insights.