Market followed the global positive sentiment higher as expectations of ECB delivering more stimulus. We don’t think the ECB is going to come out and spend more…but more likely to play defence by stretching out QE time frame to reduce uncertainty in 2017 when the EU super powers like Germany and France go to the elections. Bank of Canada has come out and pretty much said they are on hold through 2017….leading indicator of what we expect from RBA in 2017 as well. RBA will not cut rates till it gets really ugly…and if that happens, rate cuts are only damage minimisation…not growth drivers. There aren’t too many bullets left in the barrel. The best performers today were Banks and Miners again with Tech getting up there while Energy was in the negative territory again. Commodity prices continue to show amazing strength and brokers are capitulating and updating in mass….big upgrade cycle coming through. For the full report… (VIEW LINK)