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Aussie house values in global context

August 26, 2015 - 03:41 -- Admin

By Martin North, cross-posted from the Digital Finance Analytics Blog: Excellent speech from Lawrence Schembri, Deputy Governor, Canadian Association for Business Economics on house price trends. The speech, which is worth reading, contains a number of insightful charts. Australian data is included. He looks at both supply and demand issues, and touches on macroprudential.  You

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Pilbara housing market “dead and getting worse”

August 26, 2015 - 03:40 -- Admin

By Leith van Onselen Another week, another report on how the mining bust in Western Australia has eviscerated Pilbara’s housing market. From The AFR: “The market is dead, and getting worse,” said John Briggs of Port Hedland Real Estate. The massive adjustment to house prices and rentals in the mineral-rich state is occurring across the

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Spruikbot Telephunken U-47 boom!

August 26, 2015 - 03:39 -- Admin

I am pleased to announce that MB Industries has completely sold out of Spruikbot Telephunken U-47s. Indeed, demand has been so strong that MB Industries has recently shifted its manufacturing plant to China where productivity improvements will allow us to triple output at the same cost. We are, therefore, open to new orders. Check out the

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Tin pot Tony demands entry to Syria bombing

August 26, 2015 - 03:38 -- Admin

From Fairfax: Tony Abbott confirmed on Tuesday that “some weeks ago” US President Barack Obama had asked him to consider expanding RAAF strikes to Syria. But senior government sources have told Fairfax Media that the driving force for the formal request received last week from the United States for the RAAF to join the air

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Bozo Joe drinks Budget Kool Aid

August 26, 2015 - 03:37 -- Admin

By Leith van Onselen Joe Hockey obviously doesn’t believe in the expression: “under promise then over deliver”. Because if he had, there is no way that he would have said the following yesterday in relation to the Budget position. “It’s in our DNA to want to deliver further tax cuts and we will in the

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China comes for our real estate criminals

August 26, 2015 - 03:29 -- Admin

From Reuters comes an ‘uh oh’ moment for the Aussie property, via Reuters: China said it would launch a three-month crackdown on underground banking to curb money-laundering and illegal funds transfers as unstable markets stoke fears of capital flight. Worries over China’s economic slowdown and possible interest rate rises by the U.S. Federal Reserve have

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Daily LNG price update (consolidation)

August 26, 2015 - 03:02 -- Admin

Oil managed a modest 2% rebound last night to $43.25 but the chart says it all:   Whether we can stick it here I doubt but let’s wait and see. The long term outlook has also crashed: You can now buy oil seven years out at $62. That’s about right in my book with US

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Daily iron ore price update (Shanghai surprise)

August 26, 2015 - 00:45 -- Admin

Here are the iron ore chart for August 25, 2015:   Qingdao firmed a little but Tianjin spot did not at $53.40. Paper is biding time while rebar gives up the ghost. Dalian did not follow Shanghai yesterday but it surely can’t hold up with the Hebei shutdowns and any more falls.

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Links 26 August 2015

August 26, 2015 - 00:01 -- Admin

Global Macro / Markets / Investing: Dow futures tumble as Wall Street preps for meltdown – CNBC S&P 500 Index Recovers From Worst Declines Amid Global Selloff - Bloomberg A Stock Market Rout in a Month That Hedge Funds Would Sooner Forget – NY Times The Stock market roller coaster - The Telegraph The Cruel

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ASX at the close

August 25, 2015 - 16:28 -- Admin

Angus Nicholson for Chris Weston, Chief Market Strategist at IG Markets Asia bounces back after “Black Monday” Asian stocks obtained some respite after yesterday’s brutal sell off. Chinese stocks continued their declines, initially opening down over 6%, paring this back to 2.8%, then pushing back to a 4% decline. What is increasingly clear is that

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