Sunset Strip (Afternoon Report) - Aussie market mainly flat despite positive US lead as we expected

Sunset Strip (Afternoon Report) - Aussie market mainly flat despite positive US lead as we expected. Solid positive close to the quarter yesterday was always going to lead to an underperformance of the US lead today. Since the markets have priced in manufacturing slowdown on a global basis, US/Euro action against Russia have been irrelevant and China slowdown reduces credit risk, we have turned short term positive (i.e. on 25th March) with local markets to benefit from nearly $10b dividends being reinvested, better than expected China data and more accommodating US Fed. It was an overall flat day with big miners leading the way, financials holding firm and Gold stocks taking a beating. (VIEW LINK)