Australia: PM Turnbull giving victory speech speaks volumes - TDS

Research Team at TDS, notes that in Australia, the Coalition has secured 74 seats (majority needed is 76) but the ongoing vote count hints that the LNP will get 76 although still not absolutely confirmed. 

Key Quotes

“The fact that the weekend saw Labor concede and PM Turnbull gave a victory speech speaks volumes.  Katter has agreed to offer supply and confidence and likely Xenophon will support if necessary on a case by case basis.  Needless to say, talk of electronic voting has snowballed given the glacial pace of counting at this election.

Not much to glean from housing finance data for May.  The number of loans dropped 1% in May (mkt -2%) where owner occupier loans dropped 0.6%/m, but lending to investors jumped nearly 4%, after a 4% decline the prior month.

Port Hedland iron ore exports a record high for June at 41.8m vs 39.4m prior.”