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Auction clearances continue to strengthen

July 24, 2017 - 00:10 -- Admin

CoreLogic released its auction report yesterday, which reported a continued firming in the national auction clearance rate to 74.8% from 72.4% last weekend, and was also above the 71.5% recorded in the same weekend last year: Auction volumes nationally were 1,712 – way above the 1,329 recorded in the same weekend last year. As shown above, Sydney’s

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How do the rich get richer quicker?

July 24, 2017 - 00:10 -- Admin

There are a few studies that show that the richer you are the better your investment returns – Thomas Piketty the French economist is probably the most well-known author in this space. A recent Vox article digs into these returns using detailed Swedish data and essentially finds the same thing. The top 5-10% of households

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Lot prices, rather than “dwelling supply”, is what matters for affordability

July 24, 2017 - 00:10 -- Admin

By Leith van Onselen Joe Flood from affordable housing provider, Community Housing Limited, has argued that boosting housing supply does not lead to lower prices, citing house price and new home approval figures for 2016. According to Flood, new home commencements rose by 14,000 in 2016, but house prices showed no sign of falling, particularly

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Housing sentiment plumbs new depths

July 24, 2017 - 00:10 -- Admin

Via Westpac’s Red Book: ― Conditions in the housing market are starting to show some hints of stabilising. The ‘time to buy a dwelling’ index lurched lower again in May-Jun but managed to rally 3.1% in Jul. This is the fi rst increase we have seen in 2017, after a cumulative 10% decline over the

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Make or break for OPEC

July 24, 2017 - 00:06 -- Admin

Good video here summarising the importance of this week’s OPEC meeting.

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Gas spot prices break lower

July 24, 2017 - 00:06 -- Admin

Via Domainfax: The Turnbull government is moving a step closer to slapping export restrictions on liquefied natural gas producers as part of its bid to secure domestic supply and bring down prices. Resources Minister Matt Canavan will give formal notice to LNG producers on Monday that he will use the Australian Domestic Gas Security Mechanism

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Daily iron ore price update (down)

July 24, 2017 - 00:05 -- Admin

Iron ore price charts for July 21, 2017: Spot down. Paper down. I still expect the restock to persist a little while longer but we appear to be at the price peak.

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Chinese capital outflow keeps slowing

July 24, 2017 - 00:04 -- Admin

Via Capital Economics:  Net capital outflows from China were broadly unchanged in June as greater inflows from foreign investors helped to offset increased outflows due to Chinese investment overseas, including in Belt & Road countries. China’s growing appetite for foreign assets means that outflows are likely to persist. But unless sentiment on the renminbi

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Links 24 July 2017

July 24, 2017 - 00:01 -- Admin

Global Macro / Markets / Investing: Suddenly Becoming a Bond Manager in the Credit Crisis – Bloomberg Multi-party kleptocracies rather than illiberal democracies – Global Inequalities 10-Year Returns of U.S. Median Active and Passive Managers – PIMCO The heat goes on: Earth sets 9th straight monthly record – AP Venezuela’s Perfect Storm for Oil May

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Weekend Reading 22-23 July 2017

July 22, 2017 - 00:01 -- Admin

Global Macro / Markets / Investing: The New “Supply-Side Economics” Fueling Asset Bubbles – Macro Mom What the Decline of the Dollar Means – NY Times IMF Falls Short of Transparency Rules as Key Discussions Remain Secret – WSJ The power of populists – The Economist Americas: Trump’s Threat to Jail Clinton Also Targets Democracy’s

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