Market Immunity

Both SPI and bonds hardly moved after it was announced PM Gillard would keep her job today.

The last leadership challenge was a positive for the market, although we did then have a leadership change. Still ‘political certainty’ is generally as positive for the market. All in all, it shows how the market can grow immune to things after it happens the first time.

The market does not seem to ‘like’ the news, but it’s not much of a negative reaction either.