Sunset Strip | Aussie Afternoon Institutional Market Wrap

Market finished relatively flat despite positive global sentiment from the weekend driven by the Oil deal. Bleeding oil producers and self-interest to get a good price for oil asset sales have finally delivered a supply side response from OPEC and non-OPEC producers. The main game this week is the US Fed outlook statement and dot plots. The rate rise is certain…well nothing is certain with US Fed…but this is close to certain as they get. Market is expecting aggressive outlook in rate rise while there is bound to be friction between the US Fed and the US president elect if the rate hike outlook is too aggressive. The best performers today were Resources with Energy leading the way while Gold, Health Care and Telcos were the worst. The main moves today were on CVO after take-over bid while growth stories continued to dominate the negative performers. For the full report… (VIEW LINK)