Sunset Strip > Trading Day Wrap From Blue Ocean 20170517

Mathan Somasundaram

Local market started weak and then sentiment nosedived as more details of the White House debacles filtered through the media and drove US futures lower. The big risk with US politics at this point is…anything could happen. Market hates uncertainty…and volatility indices are at historical lows…something should give and the investors are worried!!! Bond yields are falling and gold is rising as investors look for safety on rising US macro risk. The best performers were Gold, Metals & Miners and Materials while Banks, IT and Staples were the worst performers. Market risk started rising as more details of the issues between US president and the former FBI boss starts to feed through media…US futures started to tank and dragged USD lower…the Asian markets reacted negatively to risk in US economy.

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