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Links 25 July 2017

July 25, 2017 - 00:01 -- Admin

Global Macro / Markets / Investing: Bitcoin Is Unsustainable – Vice The curious world of micro caps—leveling the playing field – Factor Investor Federal Reserve now faces prospect of global monetary policy tightening – Reuters How Markets Could Come Out of the Shadows – WSJ Saudi Arabia Turns Off the U.S. Oil Tap – Bloomberg

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Macro Afternoon

July 24, 2017 - 16:55 -- Admin

by Chris Becker A mixed start to the week for risk markets outside China as traders prepare for a tumultous week of US earnings, CPI prints and finally the Federal Reserve’s latest take on where the world’s biggest market – government bonds – will turn as it reassesses its interest rate trajectory. In mainland China

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Interest-only smash shifts to owner-occupiers

July 24, 2017 - 14:35 -- Admin

After last month’s pounding for inventor loans, we’re into phase two today:   Bankwest, a subsidiary of Commonwealth Bank of Australia, is slugging existing interest-only owner occupiers with increases of 35 basis points, in the latest move to rein in higher risk loans. The lender is decreasing lending on selected principal and interest products by

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Only one Sydney suburb has a median house price below $500k

July 24, 2017 - 13:32 -- Admin

By Leith van Onselen Another report has been released highlighting the absurdity of the Sydney housing market, with just one suburb having a median house price below $500,000 – Willmot 50 kilometres west of Sydney’s CBD. From Domain: It’s the end of an affordability era. After a five-year boom Sydney has just one suburb left with

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ASX tests key supports

July 24, 2017 - 13:15 -- Admin

Dalian has remained weak during today: Big Iron too: Big Gas is breaking down: Big Gold has caught a little bid: Big Bubble has not: Big Liar is mixed: The big bearish chart on XJO is still apparent with a potential head shoulders top plus descending triangle still in play: We’re also at the 200DMA:

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Westpac: RBA to cap Australian dollar?

July 24, 2017 - 13:06 -- Admin

Via Westpac’s Robert Rennie: The A$ is toying with top of my fair value model output – above 0.7950 its more than 1stdev above FV. RBA Debelle’s comments enough to cap? I remain of the view that the rush to EUR will still push the Aussie above 80 cents short term. But it’s splitting hairs,

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Abbott, RIO demand more coal power

July 24, 2017 - 12:42 -- Admin

He’s baaaack: Fresh from his faction’s resounding victory in the NSW Liberal Party over the weekend, an emboldened Tony Abbott has switched his focus to torpedoing the Renewable Energy Target and the government’s plans to introduce a Clean Energy Target. Mr Abbott travelled to Gladstone, Queensland, on Monday to tour an aluminium smelter, advocate the construction of

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Labor is justified in targeting trusts

July 24, 2017 - 12:42 -- Admin

By Leith van Onselen Labor leader, Bill Shorten, confirmed over the weekend that the party would target trusts, which it views as a tax shelter favouring the wealthy. From The AFR: Opposition Leader Bill Shorten will detail a Labor clampdown on trusts and other tax minimisation vehicles… Mr Shorten confirmed the push against trusts on Sunday…

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NZ Government too late the hero on housing supply

July 24, 2017 - 11:08 -- Admin

By Leith van Onselen Back in 2007, then National opposition leader, John Key, lamented the woeful housing affordability in New Zealand (Auckland in particular), and promised to undertake a wide range of supply-side reforms if elected into government. John Key was elected as Prime Minister in November 2008 and the National Government has ruled ever

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