Sunset Strip | Aussie market closed negative but did well not to take another bashing in line with global lead

Sunset Strip | Aussie market closed negative but did well not to take another bashing in line with global lead. Turnover was just above $5.8billion. Now the market is beginning to think about not getting a rate cut for a few months or may be after the budget? Will the current market multiples be supported if that happens? As we have been saying since the end of Feb that the yield differential and valuation multiples suggest that we will see profit taking in March. The next phase to keep in mind with US rate rise risk is the capital outflow risk to emerging markets. If we see that happening, then the emerging markets will be forced to put up rates to keep capital and that will have detrimental effects on their growth outlook and their demand for commodities. Let's not ignore Euro mess with Greece and Russia still playing hide and seek. Given our exposure to commodities and yield thematic, time to buckle up...this may get messy short term!!! (VIEW LINK)