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Go commodities, but why?

August 23, 2017 - 14:09 -- Admin

by Chris Becker The always fun to read Tom Price from Morgan Stanley asks the question as commodities put in some great market performance as the USD (measured by the DXY dollar index) goes down the golden toilet: The technical reasons are all very similar, with copper here illustrative of a bullish rectangle pattern that

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Crikey: There is no property bubble

August 23, 2017 - 13:00 -- Admin

A slow news day always throws up the loons. From Crikey’s Bernard Keane: There are many things to accuse the big banks of. But pushing Australians into buying residential property isn’t exactly up there in the long list of their sins, despite last night’s Four Corners expose of the “powder keg” that apparently is the Australian property market. Such

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Terror Bank, iron ore sink ASX

August 23, 2017 - 12:24 -- Admin

No Wall St rally for you! XJO is kidding: As Dalian crashes: Big Iron is off: Big Gas looks strong. If you don’t mind stealing from pensioners then the charts look constructive: Big Gold is firm too but I’m definitely a seller on the notion that Trump has bottomed: Big Bubble is getting hosed as

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Immigration booster, Burgess, loses it at Dick Smith

August 23, 2017 - 12:00 -- Admin

From Rob Burgess: Former electronics entrepreneur Dick Smith launched another anti-immigration campaign this week, claiming to be tackling a vital issue that the media is wilfully ignoring. However, by approaching the topic with the same oversimplifications contained in his 2010 documentary Dick Smith’s Population Puzzle, Mr Smith is introducing further risk to our vulnerable economy. That

And now for a Terror Bank class action

August 23, 2017 - 10:59 -- Admin

From Domainfax: The Commonwealth Bank faces a potential investor class action over its disclosure of more than 53,000 alleged breaches of anti-money laundering laws, following a sharp fall in its share price when the scandal emerged earlier this month. Plaintiff law firm Maurice Blackburn and litigation funder IMF Bentham on Tuesday said it would investigate a potential class action on behalf of CBA shareholders, citing the

Sucks to be unemployed in the Lucky Country

August 23, 2017 - 10:41 -- Admin

Via Paul Kelly today: The symbolism of inequality is the new fashion in our politics. What better illustrates inequality than the low level of Newstart payments, long denounced by all and sundry? Yet when the test came, the proposal to increase Newstart was repudiated 45-11 in a Senate vote 10 days ago. What is going

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Norway’s SWF does its job

August 23, 2017 - 10:23 -- Admin

by Chris Becker First world problems in a nutshell. You have to drawdown some of your savings for the very first time – a meager $11USD billion or so from your near $1 trillion sovereign wealth fund (SWF)  – because lower commodity prices are taking big slugs out of your budget. And then, and then

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Household credit stress rises

August 23, 2017 - 10:20 -- Admin

Via Credit Suisse comes confirmation of what we’re seeing RMBS for household credit stress: ■ Mortgage & card past-due ratios and mortgage impaireds ratios rose in the latest quarter, with loss rates stable in mortgages but rising in cards. Whilst acknowledging seasonality, a slowing Western Australian economy, and residual impacts of Cyclone Debbie, mortgage past-due

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Four takes on BHP

August 23, 2017 - 09:45 -- Admin

First, the “buy” from Deutsche: New strategy and targets should result in significant re-rate BHP has reported a strong FY17 result with close to record FCF of US$12.6b driving net debt down to US$16.3b. Earnings were below our estimate on higher net interest. A revamped strategy with measurable targets was outlined which we applaud. BHP

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