Sunset Strip (Afternoon Report) - Aussie market started negative and trended down on negative global sentiment and low volume

Mathan Somasundaram

Deep Data Analytics

Sunset Strip (Afternoon Report) - Aussie market started negative and trended down on negative global sentiment and low volume. Global growth worries are back again with US low growth and Euro downgrades. 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 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. Budget still missing substantial amount of detail while facing push back from senate. (VIEW LINK)


Mathan Somasundaram
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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