Keep an eye on the Bond market today.

The ASX 200 will likely open moderately lower following mostly negative leads from overnight trading. Both Europe and Wall Street were lower, weighed down by weakness in tech shares.Bond yields and the Aussie dollar were higher, while commodities were mixed. On the domestic economic calendar, the minutes from the recent RBA monetary policy meeting will be released. Moreover, RBA Governor Lowe will be giving a speech titled Economic Outlook and Monetary Policy, so it is likely there will be a major reaction in bond markets today, which could well reverberate through to our share market. It is all quiet on the local company front. We believe the ASX 200 will close moderately lower, on the back of profit taking amongst those stocks that soared yesterday.

Morning Call

May 21, 2019

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