Will the positive vibes last?
• Positive tone. Equities rose & bond yields slipped back. No new news was good news for markets. AUD edged higher & outperformed on the crosses.• Business PMIs. European & US PMIs released today. Leading indicators point to a pick up in global industrial activity over coming months.• AU CPI. Australian quarterly inflation due tomorrow. Signs the improvement in core inflation is stalling could push out RBA rate cut expectations. No news is good news with the limited new economic information and a simmering down of Middle East tensions supporting risk sentiment overnight. Equities rose with the US S&P500 (+0.9%)...