1. Will the stock market go easy on Albanese?
Labor’s Anthony Albanese was given the thumbs up from voters over the weekend but will the stock market like what they saw? The futures market says stocks will open down 15 points, which says any pushback from the big end of town to Labor’s win is small right now. What happens to stocks by the close of today will be an important test for Labor’s potential to be pro- or anti-business, but history actually shows in the 11 elections held since 1990, the All Ords Index climbed by an average of 1.2% in the 15 trading days after the poll.

2. Has the election slowed auction clearance rates?
The election again proved that it’s not easy to sell a property when the nation has to vote, with auction clearance rates plummeting over the weekend. Clearance rates were down to the lowest reading of the year, with only 40% of stock up for sale going under the hammer. A year ago the clearance rate was over 75%, so the question is: are these low clearance numbers nationally because of the election or is it a sign that prices are starting to tank? The 3,000 properties up for auction next weekend will be a good indicator.

3. Fight is on for AGL!
Tech billionaire Mike Cannon-Brookes is set to use this Labor victory to stop power company AGL from splitting into a clean and dirty AGL! On June 15, AGL shareholders vote to make AGL a clean, more green AGL Australia, while AGL’s coal-fire power assets will be put into a new company called Accel Energy. Cannon-Brookes has bought 11.28% of AGL and wants to keep it together, close down the coal business and go renewables. He thinks shareholders shouldn’t and won’t ignore what voters decided on the weekend.

4. Prime Minister Ardern heads to White House for trade delegation
New Zealand Prime Minister Jacinda Ardern will leave for Washington this evening, leading a trade delegation with Trade Minister Damien O’Connor and several business leaders. However, plans have been thwarted by Ardern recently contracting Covid-19, resulting in a meeting not yet being set with President Joe Biden.

“Covid protocols are the curve ball we are dealing with at the moment,” Ardern told Radio New Zealand. “I’m the only leader I know of who has gone into the US with an infection in such close proximity so it means there are a few extra things for us to work through. There is really goodwill on both sides to make it work.”

5. ASX to fall as US dabbles in bear market territory
ASX futures were down 15 points or 0.2% to 7129, with the AUD -0.1% to 70.40 US cents.

On Wall St: Dow +0.1% S&P 500 flat Nasdaq -0.3%.

In Europe: Stoxx 50 +0.4% FTSE +1.2% DAX +0.7% CAC +0.2%.

2-year yield: US -0.02% (2.58%) Australia -0.05% (2.45%). 10-year yield: US -0.06% (2.78%) Australia -0.07% (3.31%).