Surprises-surprises - ANZ

Analysts at ANZ noted that there were a number of surprises that came out of overnight sessions.

Key Quotes:

"The past day saw several surprises (NZ Prime Minister Key’s resignation) and setbacks (Italy vote), so it could hardly be called usual. But for markets, thankfully, the focus is on the endgame: ongoing political change in the US and Europe, and mounting evidence that the US economy is ‘back’."

"All of this suggests bond yields will continue to creep gradually higher as the US transitions to a period of more rapid Fed tightening starting next week. We expect two follow-on Fed hikes in 2017."