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Perth property losses crash through 20%

July 19, 2019 - 10:00 -- Admin

CoreLogic’s daily house price index reveals that Perth’s dwelling value declines have plunged through 20%, marking by far the biggest and longest capital city decline in modern Australian history: While the other major capitals are showing improvement, the quarterly pace of decline in Perth has worsened to 2.4%, suggesting further heavy losses: In a similar

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Minister for House Price Spruiking slammed

July 19, 2019 - 09:45 -- Admin

With good reason. As we know, Housing Minister Michael Sukkar has morphed from policymaker to spiv in the blink of an eye, via The Australian: Housing Minister Michael Sukkar has urged first-home buyers to try to snap up a property now, ahead of the government’s signature loan deposit scheme starting next year, warning that housing prices

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RBA and ScoMo are at loggerheads over the bubble

July 19, 2019 - 09:30 -- Admin

Via Domain: Billions of dollars of congestion-easing infrastructure projects that could boost the economy and increase safety are stuck years down the track as the Reserve Bank of Australia calls on the Morrison government to do more. As Prime Minister Scott Morrison promises to pull forward some infrastructure projects, an analysis of the federal budget

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MasterThief celebrity chefs ARE the new Australian economic model

July 19, 2019 - 09:15 -- Admin

Via the Herald Sun comes the age of the celebrity wage thief: Speaking exclusively to the Herald Sun as the hefty bill was revealed, ­Calombaris rejected claims that years of underpayment were deliberate. He said he had tried to do the right thing at all times. “I am deeply sorry for what has happened, and

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Daily iron ore price update (supply gusher)

July 19, 2019 - 09:00 -- Admin

Reuters has the texture: “Demand is pretty good, but on the supply side there’s a little bit of change in the momentum,” said Helen Lau, mining and metals analyst at Argonaut Securities in Hong Kong. The market seems to have taken a pause, she said, following the sustained rally this year that had pushed the

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Macro Morning

July 19, 2019 - 08:30 -- Admin

By Chris Becker  Here comes the Fed with more punch to revive this boring party! The NY chief of the Federal Reserve, John Williams, gave a big boost to risk markets overnight by goosing the easing question, sending stocks higher and slamming the USD down against all the undollars. Gold has broken out to a

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Australian dollar blasts higher on uber-dovish Fed

July 19, 2019 - 05:20 -- Admin

DXY slumped last night. CNY was soft. EUR rose: The Australian dollar blasted off versus DMs: But was mixed against EMs: Gold broke out: Oil keeps falling: Metals keep laughing: Miners were soft: EM stocks firm: Junk fell with oil: Treasuries rampaged: With bunds: Aussie bonds were bid: Stocks rebounded from losses: As New York Fed

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Chinese international students hoodwinked by cheating spammers

July 19, 2019 - 05:19 -- Admin

This time at the ABC: Sally Zhang* recently bought an essay from a ghostwriter for the first time — not because she struggles to write, but rather so she could enjoy an early holiday. Ms Zhang, a Chinese international student who is undertaking a postgraduate degree at the University of Western Australia, took up the

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Westpac: “Very hard to see” jobs reaching RBA target

July 19, 2019 - 00:20 -- Admin

Via Westpac: An expected soft update but a robust trend in participation is making it very hard to see unemployment getting below 5% any time soon, let alone getting down the RBA’s natural rate of 4.5%. Westpac is forecasting the unemployment rate to rise from here. The June Labour Force Survey reported a 500 gain

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CoreLogic weekly Australian house price update: Bounce

July 19, 2019 - 00:10 -- Admin

In the week ended 18 July 2019, the CoreLogic 5-city daily dwelling price index, which covers the five major capital city markets, rose by 0.08%: Values rose across Sydney and Melbourne but fell across the other major markets: The quarterly decline is running at 0.75%, with all major markets suffering losses: Annual losses are running

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