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France Sells E10.355bn of OATs

RBA: /VIEW: Economists at TD Securities have revised their forecast for the
first hike in the Reserve Bank of Australia's cash rate in this cycle, pushing
it to May 2019 from November this year. "The sound of rate hike capitulation has
been deafening, and we reluctantly add to the noise. While we retain our 'glass
half full' stance on the economy, the data flow has been insufficient to move
the needle for the RBA, and a rate hike by year end is difficult to deliver," TD
Securities head of Asia-Pacific research Annette Beacher wrote in a note.
Beacher now expects two hike in 2019, in May and November, that will take the
cash rate to 2.0% from the current 1.5%.
MNI London Bureau | +44 0203-865-3809 |