Sunset Strip > Trading Day Wrap From Blue Ocean 20170228

Mathan Somasundaram

Local market ran into more profit taking ahead of the State of Union address by the US president and the US GDP update on the last day of the month as well as the last substantial reporting season date. Miners and ET related selling in Gold equities drove the market down while Energy and Utilities were the shining lights for the day.

  1. Local market ran into more profit taking ahead of the State of Union address by the US president and the US GDP update on the last day of the month as well as the last substantial reporting season date.
  2. Miners and ET related selling in Gold equities drove the market down while Energy and Utilities were the shining lights for the day.
  3. Energy sector was on the buzz today with news that there was a previous turned down bid on WOR before the accumulation of a strategic holding!!!
  4. As the reporting season starts to decline this week, local investors will start to look back at the mainly positive reporting cycle where market has run over 2% on total return basis for the month of Feb.
  5. Global markets are pricing in substantial defence spending and infrastructure build to drive growth in US and push up USD…anything that does not live up to expectations will get a decent reaction from low volatility.
  6. Reflation trade outlook
  7. Asian markets lagging US…
  8. Russia and Trump Trade…
  9. Chinese baby recovery

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Mathan Somasundaram

2017 - Now > Blue Ocean (AUS) > Market Portfolio Strategist 2012 - 2017> Baillieu Holst (AUS) > Head of Strategy, Quant and Data Analytics 2009 - 2012 > Bell Potter / Southern Cross (AUS) > Head of Quant and Data Analytics 2007 - 2009 > LIM...

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