Sunset Strip > Trading Day Wrap From Blue Ocean 20170504

Mathan Somasundaram
Mathan Somasundaram Blue Ocean Equities

Local market fell after starting positive and then made a slight recovery to deliver third consecutive negative day. Commodities were smacked overnight and that meant resource sector was always going to be under pressure. Banks started positive on NAB result but then faded into negative territory as market worried about bank sector risk/return at these stretched valuation levels.

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