Local market opened lower before bouncing on GDP data matching expectations. There was big scare being set up that we may be heading into negative quarter, but it was anemic growth instead. The only other main catalyst was the opportunistic bid for VOC by KKR. It is all about the global sideshows…US Comey show…UK elections…ECB update…all performing in the next few days. Currency worries are key in all markets as global investors run for safety…bonds and gold on the move higher. Global investors are more worried about currency devaluation risk that over stretched valuation…i.e. falling AUDUSD worry hitting local markets.

 

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