Sunset Strip > Trading Day Wrap From Blue Ocean 20170529

Local market ran into some pain as market sentiment was low as major markets are closed tonight. US, UK and China were closed. Market Outlook likely to remain volatile in the short term with macro risks while medium to long term view remains positive. Given the recent US retail/housing weaker data, key macro this week is the US Non-farm Payroll on Friday…while for commodities…China manufacturing PMI on Wednesday will be key given the weaker China data of late. The best performers were Industrials, Health Care and Energy while Banks, Utilities and IT were the worst performers. US market volatility index (VIX) has collapsed below 10 before the long weekend in the US…Danger Will Robinson!!!...not confidence building number when US president is running from one mess to another and the market is already priced in fiscal stimulus.

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