Sunset Strip (Afternoon Report) - Aussie market continues to climb the wall of worry despite falling Iron Ore price and negative housing data

Mathan Somasundaram

Deep Data Analytics

Sunset Strip (Afternoon Report) - Aussie market continues to climb the wall of worry despite falling Iron Ore price and negative housing data. Banks continue the trend of moving the index higher while miners see more profit taking. Equities remains the only game in town and Yield is the only thematic that needs attention given the low global growth and low global interest rate environment expected to last well into 2015. We turned positive in the short term on May 22nd with China data beating expectations, US data continuing to point towards sustainable recovery and domestic market pricing in low consumer sentiment and budget worries. This week will see markets being dominated by substantial amount of macro data while cashed up corporates continue to look at M&A to improve performance due to the low growth and interest rate environment. Aussie market closed up 0.47%. Turnover just below $4.4b. (VIEW LINK)


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Founder & CEO
Deep Data Analytics

Over 25 years’ experience in the finance/tech industry. Mathan has worked extensively in all parts of the finance sector (i.e. County NatWest, Citi, LIM, Southern Cross, Bell Potter, Baillieu Holst and Blue Ocean Equities). Currently Founder and...

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