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Beijing home sales pop

May 6, 2015 - 00:10 -- Admin

Cross-posted from Investing in Chinese Stocks. According to one data collection firm, Beijing new home sales over the May Day holiday jumped 91% over 2014 levels. Existing home sales climbed 58.1%. Inventory heading into May is at a 10-month low. 我爱我家, a realtor, said their sales increased 272% and area sold increased 262%. To put

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Links 6 May 2015

May 6, 2015 - 00:01 -- Admin

Global Macro / Markets / Investing: Buffett hates bonds as the selloff accelerates - Bloomberg Salaries in rich developed countries are stagnating – The Economist (middle class carveout, coming to Oz) Why inflation from QE is not inevitable - Cullen Roche Americas: US trade deficit blows out, biggest in six years – Bloomberg Americans are

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ASX at the close

May 5, 2015 - 15:59 -- Admin

Stan Shamu for Chris Weston, Chief Market Strategist at IG Markets RBA cuts but AUD rallies The much anticipated May Reserve Bank of Australia meeting has finally delivered a rate cut. Economists and the market were both expecting a cut and after a couple of months of holding fire, the central bank finally acted. The RBA

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Bill Evans on the cut

May 5, 2015 - 15:54 -- Admin

From Westpac’s Bill Evans: As we had forecast the Reserve Bank Board decided to lower the cash rate by 25bps to 2%. For Westpac this brings to a close an interesting six months in forecasting. When we changed our view on December 4, 2014 we were the only institution in the Bloomberg survey who forecast

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Fitch pounces on rate cut, demands MP

May 5, 2015 - 15:04 -- Admin

Onya Fitch: Fitch Ratings-Sydney-05 May 2015: Fitch Ratings says the Reserve Bank of Australia’s (RBA) recent interest rate cut is likely to lead to a strengthened macro-prudential response from the Australian Prudential Regulatory Authority (APRA) for the Australian banking system, although implementation will probably remain targeted and occur on a bank-by-bank basis. Today’s rate cut

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Markets go opposite world on rate cut

May 5, 2015 - 14:46 -- Admin

Markets have taken the RBA cut completely backwards for no apparent reason. Bonds have been smashed: And the Aussie soared a full cent: Fairly dovish statement. Easing bias not repeated but intact. Strong currency jawboning. Macroprudential reinforced. Fade the lot I say, unless someone can explain it!

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RBA cuts

May 5, 2015 - 14:29 -- Admin

The Reserve Bank May meeting announcement is out and it’s a 25bps cut: Statement by Glenn Stevens, Governor: Monetary Policy Decision At its meeting today, the Board decided to lower the cash rate by 25 basis points to 2.0 per cent, effective6 May 2015. The global economy is expanding at a moderate pace, but commodity

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Bonds say no to rate cut

May 5, 2015 - 12:48 -- Admin

The Australian bond market has been moving sharply against a rate cut in the past 24 hours with yields up sharply across the curve: The curve has been steepening as well as the long end sells hardest: Part of this is the global sell off in bonds, which has actually seen Australian spreads to the

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Trade deficit deteriorated in March quarter

May 5, 2015 - 12:10 -- Admin

By Leith van Onselen The Australian Bureau of Statistics (ABS) has released trade data for the month of March, with Australia recording a seasonally-adjusted trade deficit of $1,322 million. The result missed analyst’s expectations, who had expected a trade deficit of only $1.0 billion. It was the 12th monthly trade deficit in a row and

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Iron ore equity inflates!

May 5, 2015 - 12:02 -- Admin

And why not? The major’s are cutting production, there are green shoots in China and the US dollar is falling. The super cycle is back! Except that this is fantasy and what is actually happening is a short term steel mill restock amid a giant and growing iron ore glut. But it’s the former drivel

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