Iron ore prices for October 22, 2020: Spot down. Paper down. Empty apartment sales have stabilised but that is not enough. They must grow or steel demand will shrink as catch-up growth rolls off: CISA is bearish: That’s only mill inventories. Trader inventories are also immense, combined for easily the highest ever seasonally-adjusted: There should
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DXY was up last night: The Australian dollar was roughly flat: Gold fell: Oil rose: Metals fell: Miners were mixed: EMs stocks stalled: Junk too: US yields backed up some more: Stocks firmed: Wesptac has the wrap: Event Wrap US September home sales surged 9.4% to an annualised 6.54m homes (est. 6.30m) on the back of record low
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During his daily press conferences on Victoria’s COVID-19 infections, Premier Daniel Andrews regularly tells us that he is just “following the science” and the “super computer” with regards to the state’s draconian lockdowns. This “science” saw blunt measures like nightly curfews, 5km travel limits, one hour exercise limits, playground bans, golf bans, and tennis bans
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In the week ended 22 October 2020, the CoreLogic 5-city daily dwelling price index, which covers the five major capital city markets, jumped by 0.13%: It was the first rise in 24 weeks. All major markets recorded value rises: So far in October, Dwelling values have risen 0.09% at the 5-city level, with all capitals
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Global Macro / Markets / Investing: Bill Gates: ‘Shutting down’ economy not nearly enough to stem climate change” – The Blaze Robots Encroach on Up to 800 Million Jobs Around the World – Bloomberg Tesla’s autonomous driving could displace $8 trillion worth of enterprise value in the market: Analyst – CNBC Meet The Network That
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Risk sentiment is trending down again today here in Asia following the repeated unease on Wall Street overnight, going into the last US presidential “debate”. The USD remains firmly down against the majors with Yen still quite firm while the Australian dollar consolidates above the 71 level. Gold is trying to regain its lost ground
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Sky News’ Peta Credlin has again forensically unpicked inconsistencies, lies and obfuscation from the Victorian Government during the Hotel Quarantine Inquiry. In the video above, Credlin explicitly calls for Inquiry chair, Jennifer Coate, to call back witnesses for oral testimony instead of relying on signed affidavits written by lawyers and worded in ways to obfuscate:
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I know it’s PR but…well…it’s Borat: The news is appropriate enough: [Rudi] Giuliani went to the hotel room thinking he was being interviewed about the Trump administration’s COVID-19 response. The young woman is flirtatious with him and invites him to the bedroom, which is rigged with hidden cameras. Giuliani then asks for her phone number
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CoreLogic has released its final auction clearance results for last weekend, which reveals that the final national clearance rate retraced to 66.2% from 66.4% the prior week: Sydney’s auction clearance strengthened to 69.1% from 67.2% the prior week, whereas Melbourne’s rose to 60.2% from 58.6%. As noted by CoreLogic: There were 1,131 capital city homes
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Recall that Foxtel in July received $10 million from taxpayers to televise “women’s, niche and other under-represented sports”. This $10 million subsidy came on top of $30 million already provided by taxpayers to Foxtel in 2017. It also came at the same time as the Morrison Government slashed funding to the ABC by $84 million.
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