Sunset Strip | Aussie Afternoon Institutional Market Wrap

Aussie market got hammered on US sentiment and finished slightly higher than the low of the day after a big mid-day bounce to almost flat territory was killed off by weak wages growth data. Volatility was clear to see and the investors were not sure which way to go. Global investors smacked the market on the open as the currency worries came back. The local bargain hunters pushed the market back up before 18 year low wage growth data smacked the market back down. RBA minutes shows the game plan is as every other central bank….. talk tough but keep falling over. US Fed minutes tonight is likely to do the same. We continue to favour large to mid cap financials for yield and small to mid cap industrials for growth. FOMO will come after this pullback as rates are going to remain low for longer than market expects!!! (VIEW LINK)