Via Reuters ‘FX Buzz’ (gated):
- Australian political machinations are rarely market moving but perhaps this time different
- Policy is the current government’s Achilles heel, although personalities have played role
- A Turnbull/Bishop-led conservative coalition will pull party back towards the centre
- Unpopular policies will be jettisoned – should give confidence a boost
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That’s from the Reuters ‘buzz’ section, which is gated.
Their conclusion (last line) is probably correct. Replacing Abbott would go a way towards ending the chaos the government has brought upon itself, bring some stability to politics and thereby give business and consumer sentiment a bit of a boost.
