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The Overnight Report: Overshot


Taper Tantrum
News this morning is the Stalinglad lockdown is set to be extended for another week. Gladys had correctly predicted case numbers would “bounce around”, and a four-day run of 35-16-35-18 is testament.
This was not known yesterday when the ASX200 again attempted to rally from the open, despite no Wall Street, to be up 30 points in the first half hour before easing slightly ahead of the 11am update. It appears the market was unsure about an 18 result, tracking sideways for an hour until someone pointed out the Dow futures were tumbling.
The index was down -25 by 2pm before rallying back to flat ahead of the 2.30pm RBA statement release. The release contained three surprises. ....

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The Overnight Report: Not Out Of The Woods


Delta Dawn
With the Sydney case-count having fallen to 16 from 35, and all major US indices hitting new record highs on Friday night, traders took the gamble and pushed the ASX200 up 35 points from the open yesterday. When at 11am the Sunday case-count registered 35 once more, it was all over.
The situation is also becoming more ominous in Queensland, just as restrictions are being eased in other states.
The index fell to its lows by midday and tracked sideways thereafter. Covid aside, the big news of the day was a conditional, non-binding yada yada bid for Sydney Airport ((SYD)) from a consortium of infrastructure investors. The stock shot up 33.9%. ....

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Bitcoin crumbles as states intensify their assault

Bitcoin crumbles as states intensify their assault
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