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Reflation dies with oil

May 3, 2017 - 07:25 -- Admin

DXY was soft last night driven by a strong euro: Commodity currencies were mixed: Gold held: Oil was walloped and looks in danger of breaking lower: Base metals were weak: Big miners too: EM stocks were strong: High yield soft: US bonds were bid: French spreads have tumbled, Italian not so much: And US stocks

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Grantham: This time is very, very different

May 3, 2017 - 05:04 -- Admin

Jeremy Grantham’s latest: Oh, the good old days! When I started following the market in 1965 I could look back at what we might call the Ben Graham training period of 1935-1965. He noticed financial relationships and came to the conclusion that for patient investors the important ratios always went back to their old trends.

The post Grantham: This time is very, very different appeared first on MacroBusiness.

Relax, the housing boom is over

May 3, 2017 - 04:32 -- Admin

Domainfax is torturing itself unnecessarily over house prices: The big question raised by last month’s slowdown in Sydney and Melbourne’s housing markets is whether this is a blip on the radar, or the start of something more significant. No one knows the answer yet, but a few important points about the housing market are becoming clearer all the same. First,

The post Relax, the housing boom is over appeared first on MacroBusiness.

ANZ: Wages, mortgages lower for longer

May 3, 2017 - 00:15 -- Admin

Via Banking Day: Low wages growth and low (and falling) credit growth are constraints facing the entire banking sector, Shayne Elliott, chief executive of ANZ said yesterday. Outlining ANZ’s half year profit to March 2017 yesterday, Elliott mused on macroeconomic factors hindering the bank’s pursuit of growth in its revenue and profits. “Credit growth of

The post ANZ: Wages, mortgages lower for longer appeared first on MacroBusiness.

The next move in interest rates remains down

May 3, 2017 - 00:15 -- Admin

From Bill Evans at Westpac: As expected, the Reserve Bank Board decided to leave the cash rate unchanged at 1.5%. The minutes of the April Board meeting noted that “the Board judged that developments in the labour and housing market warranted careful monitoring over coming months”. It was therefore a little surprising that the Governor

The post The next move in interest rates remains down appeared first on MacroBusiness.

ABC offers BrickX ponzi scheme free advertorial

May 3, 2017 - 00:15 -- Admin

ABC’s Lateline has gone full blown ponzi scheme: BrickX should be banned by ASIC. It is the pure ponzification of the roof over our heads and clearly has the potential to suck the ill-informed (and probably less well off) into fractional losses when the bubble bursts. How about some bloody countervailing comment ABC?

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Yeeha! Victorian Budget rides the housing bubble

May 3, 2017 - 00:14 -- Admin

By Leith van Onselen The Victorian Budget was released yesterday, which was largely a big spending, big taxing affair. In his Budget Speech, Treasurer Tim Pallas spruiked Victoria’s booming economic conditions, which has led to a projected surplus of $1.2 billion in 2017-18, with estimated surpluses averaging $2.4 billion over the forward estimates: This Government

The post Yeeha! Victorian Budget rides the housing bubble appeared first on MacroBusiness.

ABC offers BrickX free advertorial

May 3, 2017 - 00:13 -- Admin

ABC’s Lateline has gone full blown ponzi scheme: BrickX should be banned by ASIC. It is the pure ponzification of the roof over our heads and clearly has the potential to suck the ill-informed (and probably less well off) into fractional losses when the bubble bursts. How about some bloody countervailing comment ABC?

The post ABC offers BrickX free advertorial appeared first on MacroBusiness.

Shrinkflation hits for sale listings

May 3, 2017 - 00:10 -- Admin

By Leith van Onselen From SQM Research comes stock on market figures for the month of April, which reported a large 8.3% decline in listings over the month and an 11.9% fall over the year: Listings fell across all jurisdictions in April, Melbourne (-15.2%) and Sydney (-12.7%) recording particularly large declines. Over the year, all capitals

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Daily iron ore price update (something bullish!)

May 3, 2017 - 00:05 -- Admin

Iron ore price charts for May 2, 2017:    Spot ignored paper which rather suggests that Banana Man is on the loose again. In news, Platts has a nice snippet: The displacement of iron ore with scrap is a real and ongoing phenomenon, according to Morgan Stanley Research. In a note Tuesday the bank said:

The post Daily iron ore price update (something bullish!) appeared first on MacroBusiness.

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