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Chinese tourist arrivals hit another record in June

August 17, 2017 - 00:10 -- Admin

By Leith van Onselen The Australian Bureau of Statistics yesterday released its overseas short-term arrivals and departures figures for June, which continued to show a trend rise in the number of inbound tourists, with Chinese arrivals continuing to boom. The number of short-term visitor arrivals rose 0.3% in June in trend terms, whereas short-term resident

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ConBank lumped with Russian laundry banks

August 17, 2017 - 00:09 -- Admin

By Nathan Lynch, Asia-Pacific bureau chief, financial crime and risk, Thomson Reuters Commonwealth Bank of Australia faces enquiries from a range of different regulatory agencies in various jurisdictions over its alleged anti-money laundering failures, sources said. The bank is already preparing a response to the Australian Transaction Reports and Analysis Centre’s litigation alleging more than

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Links 17 August 2017

August 17, 2017 - 00:01 -- Admin

Global Macro / Markets / Investing: Bank of America Warns of an ‘Ominous’ Sign for Stocks – Bloomberg Why Blackstone Is Betting $7 Billion on Natural Gas – WSJ Bitcoin Is Literally Soaring Into Space After Rocket-Like Surge – Bloomberg Bitcoin market cap is within touching distance of major stocks like Netflix – CNBC Political

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Macro Afternoon

August 16, 2017 - 16:41 -- Admin

by Chris Becker Following last night’s tepid lead from overnight markets Asian traders are looking at each other and wondering if they should continue on with the bounce from Monday, given the seemingly reduced risk over the Korean peninsula. Stock markets were mixed with only the ASX200 putting on meaningful gains with currencies relatively stable

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Melbourne wins bogus “most livable” award for 7th consecutive year

August 16, 2017 - 13:56 -- Admin

By Leith van Onselen Of all the idiotic ‘awards’ handed out, The Economist’s ‘Most Livable City’ must surely rank near the top. For the seventh consecutive year, The Economist has named Melbourne the most livable city in the world. From The Age: Melbourne’s seventh consecutive year at the top of The Economist’s liveability index was welcomed

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Construction-led growth is ponzi growth

August 16, 2017 - 13:40 -- Admin

Cross-posted from The Conversation: Any downturn in the construction industry could trigger job losses to a range of sectors that support the building industry, such as planning, project management, real estate and property services. This threat reveals the risk of relying on building and construction to sustain the economy. Since before the global financial crisis,

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JPM: Aussie dollar to keep falling

August 16, 2017 - 13:39 -- Admin

Via AFR: Currency experts have had to overcome their pride, and their persistently wayward Australian dollar forecasts, and instead develop a different model for charting the direction of the local currency, as it moves against the US dollar. Shifting commodity prices and a gap in interest rate spreads are complicating Aussie dollar forecasts, but JP Morgan

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A peak inside the Eurozone recovery

August 16, 2017 - 13:29 -- Admin

Via Macquarie: The business cycle in the Eurozone We forecast growth in the Eurozone to be 2.1% YoY this year, the highest since 2001. Lagging the US recovery by 3-4 years, we expect Eurozone growth to remain above trend. As with the US, as the rate of employment growth fades, so will consumption and overall

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Announcing Fox News (ABC edition)

August 16, 2017 - 13:06 -- Admin

Politics is so weird these days (from The Australian): Under the deal announced last night, One Nation would support the abolition of the two-out-of-three and reach rules in return for the government agreeing to legislate a requirement for the ABC and SBS to be balanced and to publish the wages of highly paid ABC staff.

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Bitcoin versus gold

August 16, 2017 - 12:34 -- Admin

Via Morgan Stanley: ‘…so you’re a commodity analyst, and you don’t track bitcoin? Should I be worried about that?’ – bitcoin enthusiast Latest fiat money: Bitcoin’s value has lifted about 5x since a period of relative stability pre-Nov-16, to over $4,000/bitcoin (Exhibit 1,2), on mainly rising geopolitical tensions. Curiously, we’re receiving investor queries on this

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