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Abbott to use population ponzi to dodge carbon

August 11, 2015 - 02:36 -- Admin

From The Australian: Tony Abbott is set to defy US President Barack Obama and other world leaders by releasing a post-2020 target that is lower than that of most advanced economies, on the grounds that Australia must bear the burden of stronger population growth. The Prime Minister negot­iated the new target in a cabinet meeting

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Lower dollar gives tourism a boost

August 11, 2015 - 01:27 -- Admin

By Leith van Onselen The Australian Bureau of Statistics’ (ABS) overseas short-term arrivals and departures figures for June, released on Friday, revealed an ongoing improvement in Australia’s tourism position. The number of short-term visitor arrivals rose by 0.1% in June in trend terms, whereas short-term resident departures fell by 0.1% over the month. The the

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WA towns nurse boom hangover

August 11, 2015 - 00:09 -- Admin

From the ABC: Up until earlier this year, Wyndham — the gateway to the East Kimberley, had revelled in the mining boom. “Yeah, we had that boom period and it was good, a bit like having a party for a while and now we are just back to normal again,” Wyndham Port Authority’s Steve Forrest

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New modelling trashes Twiggy’s cartel

August 11, 2015 - 00:08 -- Admin

From Matthew Stevens on Twiggy’s cartel: The only way Australia and its miners would benefit from any form of co-ordinated iron ore production constraint would be if Brazil could be convinced to add its name to our cartel. …that didn’t settle things for good old Brian Fisher. Fisher is the economist who ran the Australian

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Daily iron ore price update (rebar flameout)

August 11, 2015 - 00:08 -- Admin

Here are the iron ore price charts for August 10, 2015: Spot markets are closed. Paper is going sideways. The rebar rally has flamed out. We’re getting set to go lower as the Beijing parade shuts Hebei steel output from August 20. Not much in news but a little scuttlebutt around RIO, from Fairfax: Rio has

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Daily LNG price update (Fed cat bounce)

August 11, 2015 - 00:07 -- Admin

Brent oil took last night for no apparent reason, up 4% to $50.84: The trigger may have the Fed’s Dennis Lockhart who appeared and both supported a September rate hike and consciousness of falling inflation. That pretty contradictory but the end result was a sharp fall in the US dollar as another governor Stanley Fischer

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Shanghai surges on bad data

August 11, 2015 - 00:01 -- Admin

Yesterday Shanghai surged 5%: It was no doubt helped by the poor weekend data which raises expectations of more stimulus. Remember that this bull market is liquidity not profits driven. FTAlpahville also has a comparison on past attempts to stabilise stock markets with public money: The encouraging historical example to draw on is Hong Kong in

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Links 11 August 2015

August 11, 2015 - 00:01 -- Admin

Global Macro / Markets / Investing: Alan Greenspan Sees ’Pending Bond Market Bubble’ – Bloomberg Key Madoff Employee Pleads Guilty; Fined $170 Billion – valuewalk.com Rating agencies still matter — and that is inexcusable – Financial Times S&P Flouts History in Break With Bonds That Often Ends Badly - Bloomberg Hedge Funds Bought WTI Crude

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ASX at the close

August 10, 2015 - 16:20 -- Admin

Chris Weston, Chief Market Strategist at IG Markets Expectations around an upcoming move on rates from the Federal Reserve have picked up somewhat, with the implied probability now sitting at 54%. As suggested last week, selling 3-month Eurodollar futures looks like a good trade as expectations of a move from the Fed in September increase.

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Sydney property doyens pray for soft landing

August 10, 2015 - 14:50 -- Admin

Says John McGrath: I’d be concerned if Sydney sees another double-digit growth. I’m predicting 3 to 5 per cent more and then I think it’s going to be plateau-ing. Melbourne is probably about the same,” he said at the Aussie Home Loans conference in Melbourne on Monday. …”I think it will fall out over the next six to 12 months where you might

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