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Australian dollar hosed as US growth rebounds

August 16, 2017 - 07:49 -- Admin

DXY poured it on last night: Whether that is a double bottom I know not but the post-2014 support level has held. AUD was weak against USD and EUR: But strong against other EMs: Gold got hosed: Brent held: Base metals were mixed: Big miners weak: EM stocks held on: EM high yield looks to

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Turnbull hangs himself from Baaaaanabygate

August 16, 2017 - 06:33 -- Admin

Desperation has seized both the Government and Paul Kelly: Malcolm Turnbull is a prime minister prepared to “do and say anything to try to cling to power” — this is the lethal hyperbole from Labor’s Tony Burke in his assault on the government over the Barnaby Joyce crisis, his purpose being to destroy the Prime

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ConBank becomes TerrorBank

August 16, 2017 - 06:02 -- Admin

Oh dear, via Chanticleer: One of the ugly sleeper issues buried in the 580-page statement of claim issued by financial intelligence agency AUSTRAC against the Commonwealth Bank of Australia is the accusation the bank failed to report its suspicions that a customer had links to terrorism financing. Under the law any suspicion of terrorism financing must be

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International shares are less volatile than Australian

August 16, 2017 - 00:28 -- Admin

Investing can be a volatile ride, the last few days have reminded us. The last few days have also reminded us why holding international equities is often beneficial for Australian investors – the Australian dollar acts as a shock absorber on returns when volatility hits, which is exactly the opposite effect that international investors get investing

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New Melbourne suburb to absorb 2 months population growth

August 16, 2017 - 00:20 -- Admin

By Leith van Onselen Yesterday, Melbourne Planning Minister, Richard Wynne, was all over the media trumpeting a new suburb in Melbourne named Mount Atkinson that would supposedly ease Melbourne’s housing affordability crisis. From Domain [my emphasis]: Construction of a new suburb in Melbourne’s west will begin before the end of the year, with plans to

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Louis Christopher backs immigration cuts as Saul Eslake loses his head

August 16, 2017 - 00:19 -- Admin

By Leith van Onselen SQM Research has released its rental vacancy series for July, which revealed a 0.1% fall in the national vacancy rate over the month and a 0.2% decline over the year: As shown above, rental vacancies fell or were flat rose across all capitals in July. Over the year, decreases in vacancies

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Do foreign buyers explain the disconnect between house prices and finance?

August 16, 2017 - 00:15 -- Admin

By Leith van Onselen With the release on Friday of the ABS’ housing finance data for June, it is an opportune time to once again plot CoreLogic’s dwelling price series against the total value of finance commitments (excluding refinancings) as measured by the ABS. Note: the ABS’ housing finance data is current to June 2017,

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Daily iron ore price update (down)

August 16, 2017 - 00:05 -- Admin

Iron ore price charts for August 15, 2017: Tianjin benchmark dropped $2 to $72.30. Paper lifted a little overnight. What coking coal is doing at $200 I have no idea. It has no Chinese policy support and supply is gushing all over. I still see the top here. So does Capital Economics: • The price

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Chinese credit booms on (or does it?)

August 16, 2017 - 00:04 -- Admin

China’s July credit numbers were out and show ongoing strength with Total Social Financing at $1.22tr yuan and bank lending only 826bn of that: Shadow banking rebounded after a few months of downtrend: Year on year financing jumped after a weak July 2016: The rolling annual continues to lift: But M2 to fall: A mixed

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Links 16 August 2017

August 16, 2017 - 00:01 -- Admin

Global Macro / Markets / Investing: Mobility and growth in top and bottom incomes – VOX Goldman Tops Banks Betting on a New Type of Hedging – Bloomberg Some Thoughts on Public Memory – Talking Points Memo Bitcoin Price Tops $4,400 As Crypto Market Nears $150 Billion – Coin Desk Shadow Fed is Glum on

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