Sunset Strip > Trading Day Wrap From Blue Ocean 20170410

Mathan Somasundaram

Deep Data Analytics

Local market opened positively and even managed to move slightly higher despite weak Iron Ore, weak AUDUSD and weak US markets after big non-farm payroll miss…and then we see another round of big portfolio transition move after the close in several large caps…same thing happened recently…..big days finish with big transition. Today’s market performance was unexpected to say the least while turnover was better than expected for the first day of school holidays. Safety investment remains the main thematic as stretched markets and geopolitical issues weigh on investment thematics…spot gold held despite bounce in USD while bond yields fell. Resources, Materials and Utilities were the best performers while IT was the only negative performer. US economy is beginning to show a few weak points….non-farm payroll was a substantial miss and was driven by retail downsizing…will raise doubts on US Fed June rate hike outlook.

 

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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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