Surprising every pundit albeit outside the US and against all opinion polls, Donald Trump emerged triumphant in the US elections and will be appointed as the next President of the United States in January 2017. Trump's win caused markets to react sharply - the Dow fell and so did most stock markets around the world. However when Trump's acceptance speech was must softer and conciliatory, markets bounced back sharply. Dow ended last week 5% higher, long term treasuries fell and yields are up a whopping 21% on the ten year treasuries up from 1.78% to 2.15% during the week. Australian Dollar came under pressure and fell slightly and is now tracking at 75.39 US cents.
The other big change during the week was in the commodity prices. While oil fell slightly, prices of iron ore lifted sharply. The 62% Fe prices rose during the week from 63.67 to 73. 35 USD per ton, a rise of over 15%.
The other big change during the week was in the commodity prices. While oil fell slightly, prices of iron ore lifted sharply. The 62% Fe prices rose during the week from 63.67 to 73. 35 USD per ton, a rise of over 15%.
MARKET DATA
| Australia Cash rate Australia 90 day bank bill Australia 10 y bond US 10y Govt bond AUD/USD AUD/EUR AUD/JPY AUD/CNY ASX 200 S&P 500 Dow Jones Industrial Average Shanghai Composite Brent Oil (USD per BBL) Gold Spot (USD per oz) Iron Ore | As at 11-Nov 1.50 1.76 2.56 2.15 0.7618 0.6986 81.11 5.1888 5,370 2,164 18,847 3,196 44.75 1,227 73.35 | As at 4-Nov 1.50 1.75 2.32 1.78 0.7680 0.6923 79.17 5.1926 5,180 2,085 17,888 3,125 45.58 1,305 63.67 |
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