Sunset Strip | Aussie market went against the trend to pull out a slight positive day in line with Canada

Sunset Strip | Aussie market went against the trend to pull out a slight positive day in line with Canada. ECB and IMF should be more than capable of handling an inexperienced Greek government. We expect the Greek government to settle on a slight discount or a long dated interest free loan period to work their way out of debt. If they decide to leave, the inflation risk to their currency could see them become the Zimbabwe of Europe. We do not expect RBA to waste a rate cut by moving before the budget given the federal government's budget track record. RBA will be forced to cut rates after the budget to keep consumer sentiment from shutting economic activity down. The global stimulus, higher asset values and lower interest rates will continue to support higher equity markets with stretched fundamentals and central bank actions. We expect global investors looking for high sustainable yield to come back to the Aussie market once the currency hits 76 cents level. (VIEW LINK)