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At the same time Conservative strategists will take heart from the fact that Ukip support has eased down a point for the second week in a row.
Though the official unemployment rate has eased down slightly, the economy remains nearly 9 million jobs short of its pre-recession level, and much of the downward movement in official figures is not the result of Americans finding full-time work.
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Luke Nolen may have eased down in the closing stages as Black Caviar scrambled home a neck ahead of Moonlight Cloud, but she still left her best form at home.
That said, I have eased down slightly over the past fortnight, although that was a planned – and slightly enforced – rest as the swimming pools were often closed and the weather was pretty grim.
Other measures of how, well, interesting the market is today: The VIX — a measure of fear in the markets — had eased down to 35 on Tuesday.
CML economist Mohammad Jamei said: "Current activity in the housing market has eased with transactions back down to levels seen almost a year ago.
The flow from China has eased since the Chinese authorities responded to Australia's call to clamp down.
That crisis has eased since last summer.
But the political sparring has eased off.
Oil has eased somewhat from its Wednesday highs and was down 41 cents to $100.83.
While he has eased the pressure on Ukraine, dialling down Russia's covert military campaign alongside the separatists in the east, Putin at the same time has raised his country's stakes in Syria in support of Bashar al-Assad, setting up an air base in Latakia and consolidating Russia's hold on a naval base at Tartus.
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