Australian shares are set to open higher. The Dow and S&P 500 advanced. Fed statement at 4am. Goldman lifts oil forecast to $US100/barrel. $A rallies.
Qantas chairman Richard Goyder needs his executives to fire up for the post-Alan Joyce era. Pay is a big part of that.AUD +0.8% to 65.02 US centsIn New York: BHP +0.6% Rio +1.3% Atlassian +0.1%Spot gold +0.8% to $US1946.78/oz at 1.02pm in New York10-year yield: US 4.31% Australia 4.21% Germany 2.70%its year-end target for the SIn a note, Bofa strategist Savita Subramanian said stocks have options, bonds don’t: “Fixed income duration is fixed.
“The key reason is that significantly lower OPEC supply and higher demand more than offset significantly higher US supply. Overall, we believe that OPEC will be able to sustain Brent in an $US80-$US105 range in 2024 by leveraging robust Asia-centric global demand growth and by exercising its pricing power assertively.”
Goldman also said: “We believe that most of the rally is behind us, and that Brent is unlikely to sustainably exceed $US105/bbl next year.”
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