Sunset Strip | Aussie Afternoon Institutional Market Wrap

Aussie market popped on the open with global market optimism and then profit taking in banks and weak China data took the market down before recovering banks pushed up the market in the last few hours. The global markets are running on stimulus while multiples are stretched beyond historical levels…but bond yields are going lower and lower every day and stretched levels may the new norm. We had solid commodity performance and that helped to booth energy and metals & mining sectors as the best performers while banks were the flip floppers that moved the market between positive and negative territory. China data dump today was weak and market is looking at more stimulus coming in the short term. The China media front running articles point to rate cut as similar to 2015 to boost credit and spending....…. (VIEW LINK)