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Australian bonds are cheap

April 20, 2015 - 00:16 -- Admin

After several weeks of curve steepening, the Australian bond curve is once again flattening, broadly thought to be indicative of weakening growth. Short and long yields have been rising but the short end more so as doubts grow around a May rate cut: The to 2/5 year slope is now just 11bps, only 2 points from

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Fortescue versus the Banana Republic

April 20, 2015 - 00:10 -- Admin

From Barry Fitzgerald over the weekend: [Andrew] Forrest has drafted in veteran communications specialist John Hurst in the Sydney office of Cannings Corporate Communications to help “shine some light on the debate in the eastern states’’. But the drafting of Hurst does point to Forrest’s intent to make sure his complaints against the Rio and

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Daily iron ore price update

April 20, 2015 - 00:07 -- Admin

Here are the iron ore charts for April 17, 2015:    Spot was firm, following paper with Tianjin benchmark up 70 cents to $50.70. Dalian closed up 1 point but fell 3 points to 392 overnight. Rebar has loosened again and port stocks fell a lousy 200k on the week. Texture from Reuters: “Those mills

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Daily LNG price update (US arb)

April 20, 2015 - 00:06 -- Admin

The Brent oil price rose marginally Friday night to $63.89. The main support to prices was another decent fall in the US rig count, down 34 to 954: The indicative LNG contract price rose to $9.33mmBtu: In news, GLNG is on track to add to the glut in Q3: Santos of Australia said that its

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China BTFD

April 20, 2015 - 00:05 -- Admin

Cross-posted from Investing in Chinese Stocks. Another article, this time from China Finance Online (CNFOL), argues that property price increases will fade in the coming weeks. Developers remain skeptical of a major rebound, with many seeing govt intervention as helpful, but unable to reverse a market that has, in their view, permanently shifted, iFeng: 楼市一大信号证明房价不会大涨

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China house price falls slow, slashes RRR

April 20, 2015 - 00:03 -- Admin

China’s March new home price data for March is out and is still falling at a good clip but the second derivative has improved. The annual fall is now down to 6.1%: But the pace of monthly falls has slowed a lot: We are at least now back into a rate of decline similar to past

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US inflation remains soft

April 20, 2015 - 00:02 -- Admin

Markets appeared to take fright at US inflation Friday night but for no obvious reason. Headline CPI is above the Fed’s target but has been for months. More significant are the analytical measures, from the Cleveland Fed (chart from Calculated Risk): According to the Federal Reserve Bank of Cleveland, the median Consumer Price Index rose 0.2%

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Links 20 April 2015

April 20, 2015 - 00:01 -- Admin

Global Macro / Markets / Investing: World Bank Projects Leave Trail of Misery Around Globe – Huffington Post How To Think Like A Trader – Kirk Report Explaining the dearth of private investment – VOX Not All Macro Models Failed to Predict the Crisis – multiplier-effect.org North America: Declining Desire to Work and Downward Trends

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Read if you use Gmail for your MB daily wrap

April 18, 2015 - 07:58 -- Admin

After four years of supplying the MB daily email to readers that choose (and often pay) to receive it, the monopoly popularly known as Google has mysteriously recategorised your daily MB email into the “promotional” tab within your gmail account. To reverse this inconvenience please follow the steps below. Step one: Click on the “promotions tab” at the top

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Weekend Links 18-19 April 2015

April 17, 2015 - 22:51 -- Admin

Now with added Gunnamatta … Global Macro / Markets / Investing: How The World Bank Broke Its Promise To Protect The Poor  – Huffington Post Oil slips below $64 as ample supplies weigh – Reuters Big-Bank Profit Engines Accelerate  – WSJ Why we need to rethink capitalism – TED Bonds beware as money catches fire

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