A flat close overall for the local bourse, which disguised some big sector moves. Talk of a trans-Tasman travel bubble and mooted government support for the travel industry saw the sector on a tear today - Qantas up 6.4%, Flight Centre up 5.8%, Webjet up 6.6% and Helloworld up 3.4%. Real estate benefited from the easing of responsible lending rules for the banks next year and talk of RBA interest rate cuts. A2 Milk took an 11% hit after downgrading guidance, in part due to the drying up of the daigou powdered milk market. Out top three VODs today are:

"It's too early to play the rotation into banks"

Warrego's right where Alcoa wants

HSBC: Why we're overweight ASEAN markets

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