Sunset Strip | Aussie Afternoon Institutional Market Wrap

Aussie market opened positive on US Fed backflip to keep rates lower for longer and then capitulated into a mess to close flat on Brexit worries. US Fed backflip, Brexit worry for ECB, clueless BOJ and “dumb and dumber” domestic election cycle have now driven the Aussie bond yields as low as 1.99% intra-day.....i.e. new historical low level. Last day of the short week coming up and the global sentiment remains very weak. US Fed confirmed that they have no credibility and will normalise rates when hell freezes over or inflation goes up…whichever comes first. Market is already below 50 day MA…likely to pullback below 100 and 200 day MA in the next few days….buy territory near 5000 for now!!! Spot gold is up nearly 4% in 6 consecutive positive days in US$ terms….market is telling you risk is high!!! (VIEW LINK)