The RBA is expected to cut interest rates today, but more interesting will be what Philip Lowe says this evening. Will he signal the extent of further cuts? Phil Dobbie asks NAB’s Tapas Strickland whether QE could even be on the horizon. The probability of imminent rate cuts from the Fed also ratcheted up, as US Treasury yields fell even further. There was also further data showing a global weakness driven by trade uncertainty. To that you can add moves by the Federal Trade Commission in the US likely to commence an antitrust investigation into Facebook. It’s all going on!