Micro Mix There remains an underlying macro undertone of case numbers falling and vaccines being swiftly rolled out in the world’s hotspots, and now being rolled out in Australia. But with Wall Street in a holding pattern, another rally for the local market yesterday was all about micro stories. Energy was the best performing sector (+2.1%) as the big freeze in Texas shuts down supply. Industrials came in with 1.9% on a 4.7% rebound for Transurban ((TCL)), due to Melbourne’s lockdown ending tonight. That rebound nonetheless flew in the face of rising bond yields. The Australian ten-year is now at 1.33%, largely following US yields.