Australia's second largest city, Melbourne, is in lock down at stage 3.

Chatter abounds of an imminent move into stage 4

It is only chatter at this stage, it'll depend on if community transmission can be brought under control using the current stage of lock down or not.

Stage 4 would shut all business with the exception of supermarkets, pharmacies and such. No more Maccas for a while. And other impacts.

There is a new conference due at the top of the hour where we'll learn more.

Further lock down measures risk further delaying economic recovery in Australia, Melbourne would obviously lag badly behind and be a weight on macro figures from the country as a whole.