Willunga Landscape, Horace Trenerry, 1947, Art Gallery of NSW Macro & Markets Hedge Funds Play Tug-of-War With the Volatile Australian Dollar – Bloomberg One Weird Trick for Avoiding Bad Chinese Bonds – Bloomberg Brazilian mine tragedy will not be the last tailings dam disaster – Reuters, Home China’s coal imports surge, but prices tell
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Not a good finish to the week here in Asia with all stock markets reporting a loss as pessimism around any trade deal between the US and China builds, with Trump’s focus on domestic issues and creating an “emergency” as political theater. The USD has reversed again with gold prices lifting slightly. The Shanghai Composite
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Via Damien Boey at Credit Suisse: Overnight, we received very disappointing US retail sales data. Headline nominal sales fell by 1.2% over the month, their sharpest monthly decline since the financial crisis. Notwithstanding ongoing strong job creation, consumption weakened on the back of low confidence and market turbulence. We estimate that year-ended growth in
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By Leith van Onselen Today, the Victorian Government will announce that it is rezoning 50,000 housing blocks and creating 12 new suburbs in Melbourne’s key growth zones in order to cater for Melbourne’s bulging population. The areas that will be opened up for development are: Beveridge North West Wallan South Wallan East Merrifield North/Kalkallo Basin
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Via Nikkei: A massive building boom across China, including in tier-two cities like Jinan, has left as many as 65 million empty apartments across the country, according to estimates by Gan Li, a professor at Southwestern University of Finance and Economics in Chengdu. Sales volumes in 24 cities tracked by China Real Estate Index System fell
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AHG warns big time: Yuk: Plenty more where that came from. Yuk:
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Do not expect any loosening of credit in this cycle, via AFR: The corporate regulator’s chief prosecutor, Daniel Crennan, QC, has warned the government has empowered him to pursue “extremely harsh civil penalties and criminal sanctions against banks, their executives and others” after the Senate passed tough new rules for white-collar offences. Corporate executives could
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Here’s the DHG wrap: And the segment split: The biggest issue is in the print revenue: Less people spending less on glamour ads, I guess. Then there’s the write down which sounds lie the tip of the iceberg and an outlook that ain’t much to celebrate: Dour stuff with the risk of considerably worse ahead.
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By Leith van Onselen Consumer groups have lashed the mortgage broking industry for pretending to care about reform while vigorously lobbying politicians to protect their commissions. From SBS News: The consumer groups that were part of a forum with the mortgage-broking industry have quit en masse, citing a lack of progress and willingness to change.
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By Leith van Onselen The REINZ has released its house price data for January, which revealed a 2.9% seasonally adjusted rise in the national median house price, with prices up just 5.2% year-on-year: Outside of Auckland, seasonally adjusted house prices rose by 2.3% in December, with prices up 9.7% year-on-year. Looking at the major cities,
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