By Chris Becker A slow week on macro markets as we pass through the quiet period of the economic calendar and caution abounds. The only remarkable technical event has been the breakdown in oil prices as long positions are unwound fast, sending both markers down to an almost one year low. Stocks remain cautious but
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From the Bank of International Settlements (BIS): Excessive indebtedness has been one of the root causes of financial crises and the ensuing deep recessions. In recent years, the focus has been on household debt, as excessive leverage by the household sector was at the heart of the Great Financial Crisis. It is well recognised that
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The Sydney-Melbourne rivalry has been a century in the making. In the 26 years after Australia’s Federation in 1901, the Commonwealth Government was temporarily housed in Melbourne. But after intense competition between the two cities for national-capital status, Canberra had to be built as a compromise to quell both cities. Since then, snide barbs have
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The rarely useful Elizabeth Knight put her finger on something over the weekend: There is a hidden and worrying risk lurking for a particular set of mortgage borrowers, whose level of financial stress is about to get a whole lot worse. It’s those home owners with interest-only loans that are now increasingly under the pump
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The MSM bank protection racket is in full swing, at the AFR: London-based investors have warned National Australia Bank chief executive Andrew Thorburn that they consider Australia a less stable and less consistent economy for investment after the South Australian budget hit the big four banks and Macquarie with a surprise $370 million tax. Speaking
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CoreLogic released its auction report yesterday, which revealed a further softening in the national auction clearance rate to 69.1% from 69.6% last weekend, but was still above the 64.4% recorded in the same weekend last year: Auction volumes nationally were 2,323 – above the 2,218 recorded in the same weekend last year. As shown above,
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By Leith van Onselen Let’s recall Michael Pascoe’s article on Friday whereby he basically labelled those of us seeking a more moderate immigration intake – commensurate with Australia’s first 100 years after Federation – as racist simpletons: A little after Friday lunch, the population clock on the Australian Bureau of Statistics web site will tick
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By Leith van Onselen Just days after the Australian Senate cross-bench voted with the Government to pass its $23.5 billion ‘Gonski 2.0″ needs-based schools funding bill, the Labor Party has vowed to restore the prior Gonski model should it win the next federal election. From The Guardian: Tanya Plibersek has promised Labor will restore every
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Via Newspoll today: Malcolm Turnbull has suffered a backlash in South Australia while losing more ground in the key state of Queensland, according to a new analysis showing voter support for the Coalition has tumbled 6 per cent nationwide since last year’s federal election. Voters in South Australia have turned against the federal government more
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Not before time: CPA Australia’s controversial chief executive Alex Malley has been sacked, effective immediately. CPA’s board released a statement late on Friday evening announcing the decision, and that Mr Malley will receive termination benefits of $4.9 million. “Alex’s legacy is an organisation with a global footprint and an ambitious outlook,” president Jim Dickson said.
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