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Articles from MacroBusiness

Final auction clearances remain stillborn

April 18, 2019 - 12:45 -- Admin

By Leith van Onselen Last weekend, CoreLogic released its preliminary auction clearance rates, which revealed the following results: Today, CoreLogic has released its final auction results, which reported a 5.0% decline in the final national auction clearance rate to 52.2% – slightly below last week’s final clearance rate of 52.6%: As you can see, Sydney’s final

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Jacinda Adern retreats on NZ capital gains tax

April 18, 2019 - 12:30 -- Admin

By Leith van Onselen New Zealand will remain one of the few developed nations in the world not to have a capital gains tax (CGT), after the Labour-led Government yesterday ruled-out implementing such a measure. From Interest.co.nz: The Government will not introduce a Capital Gains Tax having failed to reach a consensus, with coalition partner

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CoreLogic weekly house price update: easing falls

April 18, 2019 - 12:00 -- Admin

By Leith van Onselen In the week ended 18 April 2019, the CoreLogic 5-city daily dwelling price index, which covers the five major capital city markets, fell another 0.07%: Values fell across four major markets: So far in April, home values have fallen by 0.35% at the 5-city level, with all major capitals falling: The

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MB Fund Webinar: What does China’s credit deluge mean?

April 18, 2019 - 11:52 -- Admin

This week’s LIVE webinar (12:30pm AEST, Thursday 18 April) we look at recent numbers out of China and examine what this means for Australian and global investment trends. Join MB Fund’s Head of Investments Damien Klassen, Chief Strategist David Llewellyn Smith and Tim Fuller as we discuss recent global data points and how we are

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Jobs report still firm

April 18, 2019 - 11:33 -- Admin

ABS Labor Force is out for March and the news is still pretty good: MARCH KEY POINTS TREND ESTIMATES Employment increased 20,700 to 12,790,000 persons. Full-time employment increased 18,000 to 8,781,800 persons and part-time employment increased 2,700 to 4,008,200 persons. Unemployment increased 3,000 to 675,700 persons. Unemployment rate remained steady at 5.0%. Participation rate remained

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Has the great Aussie bond rocket flamed out?

April 18, 2019 - 11:30 -- Admin

It certainly got overbought as we know, via Credit Suisse: And yields have been rising now for few weeks: The curve has also steepened a little: Though spreads to the US have not really compressed much at all: I still expect the Aussie economy to be dragged into the housing bust throughout H2 and the RBA

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Sensible Tim Storer seeks Treasury repair at exit

April 18, 2019 - 11:15 -- Admin

Via The Australian: Senator Storer said if an ­incoming Labor government dragged the Senate back before June 30 to ram through part of its policy platform before the composition of the upper house changes following the election, he would attempt to push the government to ban Treasury costings of opposition parties. “Treasury and all other

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Brexit immigration cut drives UK wages higher

April 18, 2019 - 11:00 -- Admin

By Leith van Onselen The decline in EU immigration into the UK in the wake of the Brexit Turmoil has proven to be a massive boon for workers, with unemployment falling to the lowest level since the 1970s and UK wages surging: Average wages are rising at the fastest rate in a decade and employment

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Bernie Sanders leads Democrat fundraising

April 18, 2019 - 10:45 -- Admin

Via the FT: Bernie Sanders, the Vermont senator who fought Hillary Clinton for the Democratic nomination in 2016, led the field of 18 Democrats in the first quarter of the year by raising $18m, according to the Federal Election Commission. He was followed by Kamala Harris, the California senator, who raised $12m in the first

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UBS: Avoid banks as NAB warns

April 18, 2019 - 10:30 -- Admin

Another bank profit warning: UBS remains highly skeptical: …underlying trends are likely to remain very soft and deteriorating: (1) Volume growth should continue to slow as the credit squeeze continues and banks move to improve expense verification (reduced reliance on the HEM benchmark). (2) A bounce in NIM is expected following mortgage repricing. But how

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