14 Mar 2013

Local stocks have entered into a holding pattern ahead of key February jobs data to be released by ABS today.

The market should have a flat start given the lack of solid leads offshore.

While the Westpac/Melbourne Institute Consumer Sentiment Index which rose 2.0% yesterday failed to boost equities, it has led investors to re-think their expectations of a rate cuts in the near future.

Swap markets are now giving a less than one-in-five chance of a quarter point easing to a record low of 2.75 percent in April.

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