At last a rally… but it’s hardly world class

If the Aussie market is going to join the global equity rally, then we’re going to have to see some sense return.

Summary: The Australian equity market is dominated by macro themes and sentiment at the moment and our market hasn’t made any reasonable gains for nearly three years. Not all stocks are being belted, with industrials outperforming and some individual stocks enjoying a stellar run. The market is a punter’s market, driven by narratives, and the herd is strong.

Key take-out: If the Aussie market is going to join the global equity rally, then we’re going to have to see some sense return and some of the pessimism subside.

Key beneficiaries: General investors. Category: Shares.

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