NAB: The biggest talking point in markets this morning is the cricket


The Kiwis had a remarkable victory over South Africa in semi-final of the Cricket World Cup last night. The victory from a six with just one ball to spare – after New Zealand grabbed the ascendancy early only to have it wrestled back by a frugal South African bowling – was an end to what was an epic match.

But Ray Attrill, the NAB’s global co-head of FX Strategy, reckons the match is all traders will be talking about this morning.

Financial markets last night may not have been as exciting as the final stages of the rain-reduced New Zealand – South African World Cup cricket semi-final, but were certainly not without their moments.

Nevertheless, comprehending the finer points of the Duckworth-Lewis formula that set the Black Caps 298 to win in 43 overs against the Proteas’ total of 281 is a bigger early morning talking point this morning than anything that anything that happened across global capital markets.

Indeed, now that scientists have discovered the Higgs-Boson particle, the next frontier is explaining the Duckworth-Lewis system.

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