Sunset Strip (Afternoon Report) - Aussie market pulled back on local economic worries despite positive global lead, stable China PMI and Iron Ore holding up

Sunset Strip (Afternoon Report) - Aussie market pulled back on local economic worries despite positive global lead, stable China PMI and Iron Ore holding up. The pain was shared in almost all the sectors. RBA followed the rest of the Central banks in keeping rates low with low global growth. This makes equities the only game in town and Yield is the only thematic that need attention. 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. Tidal waves of unemployment coming in the next few years, rising cost of living pressures and budget worries have slammed consumer confidence down to multi year low. We continue to be negative on local cyclicals with slowing economy. (VIEW LINK)