A survey of global fund managers post-US election shows that investors are rushing out of bond proxies and emerging markets, while favouring cyclicals and banks.

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The local share market is tipped to open down, while the Aussie dollar has fallen almost 1 per cent overnight to a two-month low.

Oil markets are faced with the rising threat of an oil shortage emerging over the next few years, the IEA has warned.

Iron ore prices are swinging about wildly as investors try to look beyond the noise of speculators for a clue to sector fundamentals.

Shares finished the day broadly flat as selling in the major miners offset gains in bank and energy stocks.

In a momentous shift prompted by the Trump-induced global bond rout, markets are now betting rates will be (slightly) higher in 12 months.