'The brokers had Labor as a favor(I believe it was somewhere around the $1.42), and Lib for $2.75 which means punters thought Labor was going to win'
The punters whose money made Labor favourite placed their bets soon after the election was called. There was much hairy chested bravado from the Labor true believers then which manifested in large lines of $$$ on Labor to win. Closer to the election there was a trickle of $$ on the coalition but insufficient to move the prices significantly - the pot being stuffed with big labor bets.
As for TLS tomorrow - a relief rally (relief that the election is sort of over) imo - will move 5c against the trend.
I am not an analyst - and have been wrong before.
is abbot wins then, page-26
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