Post the policy proposals from Labor on negative gearing and capital gains tax hitting the airwaves, the betting markets are showing some money for Labor to win the election. Labor were $6.50 into $6.00, with the Coalition $1.11 out to $1.13.
A couple of opinion polls showing that the Coalition is ahead by less than the margin or error may well had some impact on cash flows.
The betting markets on the Federal election were unchanged for almost two months – the Coalition had been at $1.11 with Labor at $6.50 since late last year, but in the last 24 hours, a flow on money on Labor shorten. Not a huge amount but as the saying goes, a march of 1,000 miles starts with a single step.
Obviously, the Coalition remain hot favourites to win the election but the gap appears to be closing. Along with the polls, the betting markets have a ton of information on who might win the election.