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Chris Joye talks a little more sense on bonds

October 19, 2018 - 15:09 -- Admin

Better work from Chris Joye this week on bonds as he abandons the worst of his arguments about the benefits of floating rates. However, his main purpose seems to be to distract from his prior poor arguments and so he builds an irrelevant straw man and then demolishes said straw man. In his original piece,

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China builds apartments to Pluto

October 19, 2018 - 13:47 -- Admin

Lol, whoa! Check out the new China data. First up the headline numbers with GDP soft at 6.5%, industrial production likewise at 5.8%, fixed asset investment investment lifted slightly at 5.4% and so did retail sales at 9.2%: That may be the leading edge of the blow coming to industrial output from US tariffs. But the

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China’s dangerous dollar addiction

October 19, 2018 - 13:30 -- Admin

Via Edoardo Campanella, Future World fellow at IE University’s Center for the Governance of Change in Madrid, at Foreign Policy: The trade war with the United States may soon hit China where it hurts, making it hard for Beijing to satisfy its voracious appetite for natural resources. Every year, China spends roughly $350 billion just to purchase

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Joye: Negative gearing reform to hit house prices another 9-12%

October 19, 2018 - 13:15 -- Admin

Via our Chris today with permission: RiskWise Property Research predicts that if Labor comes to power, the situation will get much worse with house prices slumping a further 9 per cent in Sydney and Melbourne as a result of its policies to eliminate negative gearing and hike capital gains tax (CGT) by 50 per cent

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If Shane Oliver is right, 600k households hit negative equity

October 19, 2018 - 12:46 -- Admin

Via Martin North today:` AMP’s, Shane Oliver published a piece in which he revised up his expectations of the housing price correction from peak to trough to 20% in Sydney and Melbourne, and 10% nationally, a downgrade from their previous expectation for a 5% national average fall. He has, along with a number of other

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ASIC declares war on corrupt RBA and Treasury

October 19, 2018 - 12:30 -- Admin

And good on it, at Domainfax: Australian Securities and Investments Commission boss James Shipton has called for a radical increase in the regulator’s funding and slammed delays to legislation that will dramatically increase penalties against business crooks. Appearing at a parliamentary hearing in Canberra, Mr Shipton made his strongest speech since being appointed to the

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Macquarie: Here comes jingle mail

October 19, 2018 - 12:15 -- Admin

Macquarie is today arguing that a 15-20% fall in house prices would plunge 310,000 home owners into negative equity and would cost the banks roughly $6bn in legal costs and remediation owing to breaches in responsible lending laws. That is, jingle mail: For legal actions to eventuate, a customer would need to have suffered a financial loss

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Kouk: Failed RBA must cut, cut, cut!

October 19, 2018 - 12:00 -- Admin

Via the Kouk today: How’s this for an economic plan? The RBA cuts the official cash rate to 0.5 per cent and on the back of that, the unemployment rate drops to 4.75 per cent on a sustained basis, underlying inflation hits the mid-point of the 2 to 3 per cent target range and annual

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Will population ponzi swallow another Victorian Government?

October 19, 2018 - 11:45 -- Admin

By Leith van Onselen Melbourne’s manic immigration-fuelled population growth has become the everything issue in the lead-up to next month’s Victorian Election, threatening to throw another government out of office. From The Age: All of a sudden, it’s all about population. Barely five weeks out from November’s state poll, everybody’s talking about Melbourne’s absurd rate

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Australia dollar, ASX keep falling

October 19, 2018 - 11:37 -- Admin

The AUD is still weak this morning: Bonds are strongly bid: As XJO falls moderately: Big Iron is copping it: Big Gas too: Big Gold is OK. EUR fracturing is providing real support: Big Mortgage is still struggling: Big Tech looks like going lower: But not as low as Big Realty! Avagoodweekend.

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