Sunset Strip | Aussie Afternoon Institutional Market Wrap

Aussie market was pretty much flat with resources recovery negated by falling financials. The market remains in a technical down trend with better than expected domestic data and global currency wars putting doubt on May rate cut. The Turnover was just above $5.4b. Top ten reasons to take profit: (1) China growth worries are back with falling property prices and corporate debt defaults despite substantial stimulus (2) Greece facing risk of leaving EU while taking reserves from all parts of the government to pay the bills (3) US inflation up for 3 months in a row and the trend putting pressure on US Fed to push up interest rates by Sep (4) Major commodities that make or break out terms of trade are facing multi years of oversupply and falling demand (5) Astonishing and statistically unbelievable employment data and better than expected inflation data puts May rate cut in doubt... (VIEW LINK)