Sunset Strip | Aussie Afternoon Institutional Market Wrap
Aussie market fought hard to deliver a positive finish on the back of the big banks and TLS despite the falls in commodities. US Fed will find it hard not to raise rates in December with all the data pointing to rate hike and the recent addition also expected to lean towards rate rise outlook. Wages growth showed that it is at near 20 year lows while costs and taxes are rising. Market expectations for better retail in falling disposable income does not add up. AUDUSD remains resilient despite the falling commodities. Aussie volatility index and bond yield have started a rolled over from the recent up trend. We expect this trend to continue and support the market move higher on yield thematic. Big Caps outperformed Small Caps with Banks leading the charge as Resources fall over again. (VIEW LINK)
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