Local market started negative on global investor
selling on currency trade before returning to buy some back in the back half of
the day as AUDUSD recovered to finish a moderately negative day.
Market had only healthcare and property in the
positive. Global investors were selling banks while local investors were riding
the reporting season. US consumer sentiment fell hard overnight but markets
were holding up. Central banks are pushing a leaky boat across the water and
hoping the economy does not sink. The reality of rising unemployment and
bankruptcies at decade high are gradually sinking the boat but don’t let that
get in the way of more money printing!!! Meaningless trade deal phase 1 between
US and China has been flagged as maintained while unproven vaccines are coming
thick and fast. The best three performing sectors were Health Care, Property
and Staples while the worst three were Telecom, Utilities and Banks. TLS and
AGL went ex div and are heavy weights in their sectors.
Remain nimble,
contrarian and cautiously pragmatic with elevated global macro risks!!!
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Over 30 years’ experience in the finance/tech industry. Mathan has worked extensively in all parts of the finance sector (i.e. County NatWest, Citi, LIM, Southern Cross, Bell Potter, Baillieu Holst and Blue Ocean Equities). Currently Founder and CEO at Deep Data Analytics (www.deepdataanalytics.com.au) which is an integrated data analytics driven investment strategy service provider.
Over 30 years’ experience in the finance/tech industry. Mathan has worked extensively in all parts of the finance sector (i.e. County NatWest, Citi, LIM, Southern Cross, Bell Potter, Baillieu Holst and Blue Ocean Equities). Currently Founder and...
Over 30 years’ experience in the finance/tech industry. Mathan has worked extensively in all parts of the finance sector (i.e. County NatWest, Citi, LIM, Southern Cross, Bell Potter, Baillieu Holst and Blue Ocean Equities). Currently Founder and...