Sunset Strip (Afternoon Report) - Aussie market started flat and closed up positive despite negative global sentiment

Sunset Strip (Afternoon Report) - Aussie market started flat and closed up positive despite negative global sentiment. We continue to worry about consumer sentiment on the back of local unemployment tidal wave, rising cost of living pressures and budget uncertainties while global risks continue to rise in China and Europe with markets hoping for stimulus from both regions. As we have been saying, the budget cuts remain a big positive for Equities as corporates were the clear winners while low rates are expected to stay low for longer. Consumer sentiment expected to take a battering on the back of the budget policies while yield stocks and global growth stocks are preferred exposures for domestic investors. WARNING SHORT TERM TRADERS - TAKE PROFIT (VIEW LINK)