Sunset Strip | Aussie market started slowly before unleashing the greed factor to chase yield and push the market to another post GFC high

Sunset Strip | Aussie market started slowly before unleashing the greed factor to chase yield and push the market to another post GFC high. The volatility index has come back with recovering currency. Market has moved from fear to greed and the chase for yield is strong with global players taking part (i.e. turnover once gain reaching magical $7b). History shows that over the past 2 years we have had strong positive Feb returns and negative March returns. The market is being driven by short covering and yield chase. As we have said before, QE and low interest rates always drive quick burst of PE expansion on greed before the market over heats and comes back to reality. The interesting question tonight will be to get what the view of the US Fed from their recent minutes in terms of interest rate hike outlook. If they flag any type of delay, then our currency is likely to move higher with our market. (VIEW LINK)