Sunset Strip | Aussie market kept the momentum and delivered 8th straight positive day despite negative global lead and domestic political mess

Mathan Somasundaram

Deep Data Analytics

Sunset Strip | Aussie market kept the momentum and delivered 8th straight positive day despite negative global lead and domestic political mess. Domestic politics went into overdrive after hitting Lost In Space territory with Queensland state election having a massive swing to the opposition. The PM is under pressure to explain the current poll standings while his latest speech was nothing about building hope, team spirit and/or job plan. For a change the PM was all about protection jobs, mainly his own. The two main challengers are unlikely to make a move and the PM is not going to go without a fight. This is what opposition leaders call a gift that keeps giving. We do not expect RBA to waste a rate cut by moving before the budget given the federal government's budget track record, current leadership wobbles, substantial fall in petrol prices and property bubble worries. Bond yields keep dropping while Volatility risk index has started to climb. Time to take profit and wait for value and certainty to emerge!!! (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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