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Sydney rents hit the skids

January 23, 2018 - 00:15 -- Admin

Via the AFR: The residential vacancy rate in greater Sydney picked up to 2.2 per cent in December from 2.1 per cent in November, figures from the industry group showed on Monday. The increase, driven by middle- and outer-ring suburbs, took the NSW capital’s rate back up to a level it last touched in July

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Bitcoin crashes again as Korea moves to tax it to death

January 23, 2018 - 00:12 -- Admin

Via Fortune: South Korea’s government is hitting the country’s cryptocurrency exchanges with massive tax demands, in its latest attempt to rein in the booming and volatile sector. According to a finance ministry official, cited in a Yonhap report on Monday, South Korean cryptocurrency exchanges will this year need to pay 22% corporate and 2.2% local income

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Links 23 January 2018

January 23, 2018 - 00:05 -- Admin

Global Macro/Investing/Economics The Rate of Return on Everything – Promarket What’s a House Worth? Wall Street Turns to Drive-By ‘Appraisals’ –  WSJ Why willpower is overrated – VOX World’s top 1% earn 82% of wealth generated in 2017, says Oxfam – Vanguard The World Bank is no longer supporting the oil and gas industries. – Business Insider   Americas A

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Daily iron ore price update (cars and ports to the moon)

January 23, 2018 - 00:05 -- Admin

Iron ore price charts for January 22, 2018: Tianjin benchmark fell 95 cents to $75.90. Paper is soft. Steel firm. Port stock hilarious, up another 1.57mt to 154.4mt. Reuters sums it up: Record stockpiles of iron ore at China’s ports could produce steel for 107 million cars — more than three times the country’s annual

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Macro Afternoon

January 22, 2018 - 17:17 -- Admin

A mixed start to the week as Asia reacts to the surprise US government shutdown with only Chinese stocks advancing. Currency markets were relatively stable with the Aussie dollar remaining under 80 cents vs USD while oil lifted slightly. In mainland China the Shanghai Composite has continued its advance above resistance at 3400 points, now up

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Shutting down the US government means a stock shutdown too

January 22, 2018 - 14:00 -- Admin

The US government shutdown is providing great headlines about Trump’s incompetence – its pretty hard to beat shutting your own government down when your party controls the legislative and executive branches – and equal measure to the lack of risk surrounding the shutdown. It will over in a few days, nothing to worry about is

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IEA: Oil prices to squeeze over shale boom

January 22, 2018 - 13:30 -- Admin

  The IEA is on the charge about  the re-engagement of US shale oil as prices reach two year highs, which heightens the downside risk to both the market price and OPEC countries. From Bloomberg: U.S. oil output is set for “explosive” growth this year as prices rally, the International Energy Agency said on Friday. That

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ASX and Australian dollar fall together

January 22, 2018 - 12:43 -- Admin

The Aussie dollar is soft today despite a weak USD: One wonders if the accumulating soft signals about an Aussie property bust are not taking their toll on rate hike expectations. Bonds are also bid a little: XJO has broken 6000 again: Dalian is up stable: And Big Iron firm: Not Big Gas: Big Gold

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Priceline warns

January 22, 2018 - 12:21 -- Admin

Via the ASX: Aren’t category killers supposed to be mauling department stores. More like the consumer is killing both.

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