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Macro Morning (US consumes)

June 12, 2015 - 09:10 -- Admin

By Chris Becker A solid retail sales number plus a better than expected weekly initial jobless claim print in the US overnight gave markets an excuse not to press the sell button, even as the IMF left Brussels with no further moves by the Greek negotiating team. Bond markets rallied much harder than stocks which are

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Abbott’s lobotomy politics hurts Coalition

June 12, 2015 - 06:49 -- Admin

Prime Minister Tony Abbott is destroying the Coalition’s prospects for re-election day by day. His lobotomised brand of politics, far more suited to a brainless period of war than it is a liberal society of mixed and subtle tastes, is casting the Government as a genuine idiot. If the Coalition waits too long to neck

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Will negative gearing reform spike house prices?

June 12, 2015 - 06:48 -- Admin

The Australian thinks so: The political fight over housing policy appears set to trigger a price rise before the next election as Labor considers raising $3 billion a year by toughening the tax rules on negative gearing. …Bank of America Merrill Lynch chief economist Saul ­Eslake said Labor would have to consider this as it

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RP Data weekly Australian house price update

June 12, 2015 - 05:09 -- Admin

By Leith van Onselen In the week ended 11 June 2015, the Core Logic-RP Data 5-city daily dwelling price index, which covers the five major capital city markets, fell by 0.50% – the fifth consecutive weekly decline, which typically happens this time of year (see next chart). Values fell across Sydney, Melbourne and Perth, but

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Three reasons apartments may not deliver on density

June 12, 2015 - 05:08 -- Admin

By Ross Elliott, author of The Pulse: A key thrust of higher density development plans for our various inner city areas was that this would lead to a significant increase in population densities. But what if the current wave of inner city apartment development isn’t likely to deliver as many people as the plans presumed?

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Rental pain intensifies for Australia’s landlord army

June 12, 2015 - 05:07 -- Admin

By Leith van Onselen The latest rental review for May, released by Core Logic-RP Data, revealed record low rental growth at the national capital city level. According to RP Data, rents nationally grew by only 1.5% in the year to May 2015, with Canberra, Darwin and Perth recording falls, and pathetically low yields available in

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Youth employment sprouts green shoots

June 12, 2015 - 05:07 -- Admin

By Leith van Onselen Yesterday’s improved labour force data for May revealed better news for Australia’s youth, with unemployment for those aged 15 to 24 years old falling to 13.5% – a continued improvement from the 17-year high of 13.9% recorded in October 2014. Unemployment for the rest of the labour market also declined to

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Daily iron ore price update (fizzer)

June 12, 2015 - 02:10 -- Admin

Here are the iron ore price charts for July 11, 2015: Surging Dalian futures failed to translate into spot gains. Tianjin benchmark iron ore price for rose just 30 cents yesterday to $65.40. Overnight Dalian pulled back to 448. Singapore 12 month swaps still don’t buy the rally. Rebar average continues to bleed out. The

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Daily LNG price update (Australia killer)

June 12, 2015 - 00:30 -- Admin

The Brent oil price pulled back last night to $64.88 as I write for no apparent reason. The only news on the night was a bullish report from the IEA: Global oil supplies fell by 155 000 barrels per day (155 kb/d) in May to 96 million barrels per day (mb/d) on lower non-OPEC output,

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China May credit still struggling

June 12, 2015 - 00:10 -- Admin

China has released its May credit data and the news is more slowing. Total social financing came in at 1.22 trillion yuan and bank lending at 900 billion: That was down 13% year on year for the month and the first five months are still down 22%: The culprit remains shadow banking which is still

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