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Falling dollar breathes life into local online

June 3, 2015 - 12:31 -- Admin

From NAB: Australia’s online retail spending increased to $16.9 billion for the year to April 2015, or by 9.6% annually. It now represents around 7.0% of traditional retail spending, excluding cafe’s, restaurants and takeaway food. Comparable year growth in traditional bricks & mortar retail (up 5.3% in March) was still outpaced by the improvement in

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China services PMI firms

June 3, 2015 - 11:56 -- Admin

The HSBC China services PMI is out and firmed to 53.5 from 52.9. Annabel Fiddes, Economist at Markit: “Latest China PMI data saw a strong service sector performance offset a deteriorating outlook at manufacturers, leading to a modest rise in overall business activity Furthermore, service providers saw the strongest upturn in new business for three years

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Australian GDP beats

June 3, 2015 - 11:34 -- Admin

The ABS has just released the March quarter national accounts and it’s a beat with 0.9% versus expected 0.7% and 0.5% in December. And 2.3% annual versus 2.1% expected and 2.5% in December. MARCH KEY FIGURES Dec Qtr 2014 to Mar Qtr 2015 Mar Qtr 2014 to Mar Qtr 2015 % change % change GDP (Chain volume measure) Trend

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One-eyed HIA sees only half of housing equation

June 3, 2015 - 11:24 -- Admin

By Leith van Onselen The Housing Industry Association (HIA) has today issued a media release giving its solution to Australia’s housing affordability woes: Public speculation about a housing bubble ignores the real culprits of Australia’s housing affordability problems, says the Housing Industry Association (HIA). “We wouldn’t be having this conversation if Australia would get the

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Aussie MPs granted access to TPP text, with a catch

June 3, 2015 - 11:15 -- Admin

By Leith van Onselen The Guardian has revealed today that Australian politicians have been granted access to the Trans-Pacific Partnership (TPP) trade agreement on the proviso that they sign a confidentiality agreement requiring them not to divulge any details for four years: MPs and senators were briefed on the deal Monday night by the Department

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13 stocks to wreck your SMSF retirement

June 3, 2015 - 10:35 -- Admin

The AFR has this from Credit Suisse today: A handful of stocks in the ASX200 offer the Holy Grail of a decent dividend yield now, with the prospect of actually increasing dividends by 14 per cent or more over the next two years, and they are being heavily pursued by the 1.04 million people operating self-managed

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2nd banana republic schools RBA on probity

June 3, 2015 - 09:52 -- Admin

From Bloomie: Six Nigerian central bankers were charged with fraud in an 8 billion naira ($40.2 million) currency “scam”, according to the country’s Economic and Financial Crimes Commission. …Instead of destroying defaced local currency, the officials substituted it with newspaper cut into the size of naira notes, the EFCC said. The fraud was partly to

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RBNZ consults on macroprudential changes

June 3, 2015 - 09:44 -- Admin

By Martin North, cross-posted from the Digital Finance Analytics Blog: The NZ Reserve Bank has published a consultation paper about proposed changes to the rules that banks must follow for high-LVR mortgage loans. The proposals were announced in the Reserve Bank’s Financial Stability Report released on 13 May 2015. They would mean investors in Auckland

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Bond rout returns

June 3, 2015 - 09:40 -- Admin

Last night saw a big move in global bond yields. The trigger was the return of European inflation in May registering an overpowering 0.3% on the year: That sent German bunds into a tizzy with the long end flogged 21bps (or 40%) to 0.71%: The US followed despite weak data on the night and its yield

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Services PMI weak but jobs jump

June 3, 2015 - 09:25 -- Admin

The AIG services PMI is out: Conditions in the services sector were broadly stable in May 2015. The seasonally-adjusted Australian Industry Group Australian Performance of Services Index (Australian PSI®) was almost unchanged, at 49.6 points this month (down 0.1 points). The services sector last expanded (i.e. above 50.0 points) very mildly in February and March this year. •

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