Big deficits ahead but we're okay globally. Stock of the day is AD8...

Ramped up China/US tensions and US fiscal negotiations seemed to keep a lid on the market today - the ASX200 closed up 0.3% after trading in a tight range all day. The Aussie dollar remains comfortable above the 70 cent mark, currently buying around US71.5 cents.

A sobering economic and fiscal update from the Treasurer today, with real GDP forecast to drop 3.75% this year and monster deficits ahead. Nevertheless, we are in a pretty good position by international standards, according to ANZ's Cherelle Murphy. You can watch today's panel discussion with her and Westpac's Justin Smirk below...

Go long (and short travel stocks)

Australia is still a lucky country

Stay unemotional, look at the numbers closely


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