DAX: Slipping a bit yesterday – along with all too many global stock indices – underlining China’s importance. Chart/Levels from Analyst, Nicole Elliott – Investors Chronicle.

 

Istanbul election to be re-run Erdogan hoping for AK Party win

Surprisingly the opposition Republican People’s Party won March 31st local election, much to the annoyance of President Tayyip Erdogan and the AK Party he leads. Now the High Election Board has deemed this result unsafe and that another election must be held on June 23rd, prompting accusations of ‘plain dictatorship’.

The Reserve Bank of Australia today kept rates unchanged at a record low 1.5 per cent – where they have been for almost 3 years. Some had thought a cut was possible considering the weakness of the housing market and slowing inflation. On the news, the Australian dollar recovered some of the ground lost last week and benchmark 3-year government bond yields backed up to 1.31 per cent from Monday’s record low 1.23 per cent.

Financial Markets and Political Commentary
 

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