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Articles from MacroBusiness

Atlas spruiks rescuicide

June 29, 2015 - 13:39 -- Admin

Poor bastard. It’s not sentiment, David. It’s supply. It doesn’t matter how much you can sell. It matters at what price!

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Negative gearing propaganda exposed?

June 29, 2015 - 13:22 -- Admin

By Leith van Onselen I wrote earlier today how the Property Council and the Real Estate Institute of Australia (REIA) had enlisted ACIL Allen Consulting to write a report arguing the case for retaining negative gearing and the 50% capital gains tax discount. Now, it has come to my attention that in 2006, Allen Consulting

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BHP, RIO, FMG fall with futures

June 29, 2015 - 13:12 -- Admin

Big iron ore is copping it again today, along with the broader market. BHP is down 1.8% and RIO 1.4% with FMG down 2.3%: The major’s idiocy spreads have stalled and about to tighten. FMG’s sanity spread is adding IQ points by the day: One could speculate that the rise of the FMG sanity spread

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TPP a “debacle” that “strengthens protection”

June 29, 2015 - 12:50 -- Admin

By Leith van Onselen There seems to be the beginnings of a rear-guard uprising against the Trans-Pacific Partnership (TPP) trade agreement – the US-led trade pact between 12 Pacific Rim nations (including Australia) – with a number of groups rallying against the deal. ABC’s business editor, Ian Verrender, has written a damning assessment of the

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Capital Economics: Iron ore headed for $30s

June 29, 2015 - 12:39 -- Admin

From Bloomie comes Caroline Bain at Capital Economics: “There will be a sharp move down in the second half, when people realise that the apparent shortage that they’ve seen in the second quarter was temporary,” Bain said on Friday. “There will be a renewed bounce of investor sentiment turning against iron ore. It could certainly go down

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Greece pounds markets

June 29, 2015 - 12:14 -- Admin

Markets opened rattled this morning with the ASX immediately plunging 2% before rebounding and selling off again now. S&P500 futures are off 1.4%. Bonds are all strongly bid with the short and long end of Aussie yields off 5%. The Australian dollar lost nearly 1% earlier but it is now almost flat for the day in

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More forecasts for house price falls in 2017

June 29, 2015 - 11:13 -- Admin

By Leith van Onselen BIS Shrapnel and AMP chief economist, Shane Oliver, have joined the chorus of commentators (including MB) expecting house prices to fall by 2017. From The AFR: House prices will start falling in 2016-17 as the threat of rising interest rates coincides with worsening affordability, a big increase in supply and weaker

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Why did the PBOC cut?

June 29, 2015 - 11:03 -- Admin

From Forexlive: Comments from Ma Jun, chief economist of the PBOC research bureau in the Financial news (via MNI): Says current inflation is still low PPI’s declines in April and May were particularly sharp, leaving real interest rates higher than the historical average Says weekend rate cut was needed to maintain stable real interest rates and

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Racial tensions erupt at Melbourne auction

June 29, 2015 - 09:28 -- Admin

By Leith van Onselen The AFR reported over the weekend that tensions at a Melbourne auction in the eastern suburb of Mont Albert boiled over when an onlooker asked a Chinese family bidding for a home whether they had the appropriate residency status: At the auction of a four-bedroom period home in inner-city Melbourne, a

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Property lobby yells negative gearing lies

June 29, 2015 - 08:40 -- Admin

By Leith van Onselen The Property Council and the Real Estate Institute of Australia (REIA) enlisted ACIL Allen Consulting to write a  report that attempts to debunk so-called myths that Australia’s negative gearing laws are having a deleterious impact on housing affordability and the Budget, and do nothing to boost housing supply nor improve rental availability

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