Local market recovered to finish a better than expected negative day after substantially weak lead from US market. Global markets were rattled by the terror attacks in Spain while US market was worried that Gary Cohn may follow the CEO walkout from US president’s leadership groups. Global economies are showing steady improvement lead by Japan and EU. China is steadying the ship after spending spree while US still running on the economic recovery kick from late 2015 feeding into 2017 corporate profits. Central banks remain dovish on inflation outlook while wages growth is expected to remain weak for longer as the global economy transitions to higher technology production cycle. The VIX jumped over 30% overnight and local volatility index back over 14. The local market will once again fall back into narrow trading range since May while US market starting to break the uptrend in the short term. Reporting season will continue to test valuations…remain nimble as macro risk adds to earnings uncertainty. Recovering spot gold in AUD keeps Aussie gold miners in the sweet spot for the current reporting season. Will the global markets continue to negative sentiment ahead of the weekend or rebound again? There is not much sentiment to go higher from current stretched levels but global growth recovery driven corporate growth should see medium to long term positive cycle. The best performing sectors were Health Care, Staples and Telecom while the worst performers were Miners, Industrials and Banks.
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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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