Poor Q3 capex sees downward GDP revisions

Capital expenditure in the third quarter was weaker than the -2.9% expected and declined by 9.2% compared to the previous quarter. There were immediate movements in markets as a result of the figures as cash markets increased the odds of rate cuts next year, 10 year bond yields fell 3bps and the currency markets reacted by sending the Aussie dollar lower as it too factored in lower interest rates in...

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