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Daily iron ore price update (firm)

June 26, 2017 - 00:05 -- Admin

Iron ore price charts for June 23, 2017: Spot firmed. Paper faded. Steel has not updated. CISA steel output launched early June 5.4% to 1.86mt, indicating still good demand. In news, Roy Hill is struggling: Roy Hill is expecting to complete about 16 million tonnes of iron ore shipments in the first half of 2017,

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Is China stimulating again?

June 26, 2017 - 00:04 -- Admin

RBC thinks so: I Further build the case for a tactical factor-reversal trade (1-3 month scope), where on account of a number of ‘higher rates’ macro catalysts and quant seasonality trends, I see scope for ‘Value’ and ‘Size’ to reverse their recent underperformance relative to ‘Anti-Beta,’ ‘Growth’ and ‘Momentum.’ The latest data-point strengthening my view

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Links 26 June 2017

June 26, 2017 - 00:01 -- Admin

Global Macro / Markets / Investing: The Real Threat of Artificial Intelligence – NY Times Is Exchange Income a New Target for Short Sellers? – Barron’s The unique map that reveals the entire planet’s urban footprint – Technology Review Markets set to fall after years of artificial support – The Times Stock Picking Is Dying

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Weekend Reading 24-25 June 2017

June 24, 2017 - 00:01 -- Admin

Global Macro / Markets / Investing: Companies with more women directors generate a 36% higher return on equity – QZ Podcast: Are we ready to live and work alongside robots? – WEF These Truckers Work Alongside the Coders Trying to Eliminate Their Jobs – Bloomberg How big is bitcoin, really? This chart puts it all in perspective – MarketWatch

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CBA: High Australian dollar “structural”

June 23, 2017 - 14:25 -- Admin

Amusing stuff from CBA today: It would be surprising if AUD/USD fell below its December 2016 level of 0.7160 simply because there was a negative Australia-U.S. rate differential Structural improvement in Australia’s current-account deficit (to 0.6% of GDP vs 4-5% of GDP in 2001 period) Asian and global GDP growth remains firm, and Asia is

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Academic goose squawks on bank tax

June 23, 2017 - 13:56 -- Admin

From Dick Holden professor of economics at UNSW Sydney Business School via AFR: We are now through the looking glass on company taxation. We have industry-specific taxes based simply on which companies are profitable and what focus groups think about those companies. This is terrible tax policy. Though all taxes are distortionary, the primary goal of sound

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Where’s Australia’s overarching housing policy?

June 23, 2017 - 13:45 -- Admin

Cross-posted from The Conversation: Does the Australian government have the policy, organisational and conceptual capacity to handle the country’s A$6 trillion housing stock? We ask this question in a newly released research report. The answer is critically important to both household opportunity and prosperity, and to the management of our largest national asset. Australians’ wealth

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Mystery shopper exposes huge discounting in apartments

June 23, 2017 - 13:17 -- Admin

Citi went shopping:  Channel checks indicate apartment rebates have moved to >10%. Feedback from our Australian Property Conference and mystery shopping highlight a clear change in the apartment market, particularly so in Perth, Brisbane and to a greater extent in Melbourne. A tier 1 developer is now offering a 5% 12-month rental guarantee plus

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As Australia goes ex-growth so does the ASX

June 23, 2017 - 12:56 -- Admin

Dalian continues its recent pattern of firming at night and sagging during the day today: Big Iron is mixed: Big Gas is still stinky: Big Gold is up: Big Bubble is reeling: And Big Liar is as mendacious as usual as REA breaks out: As Australia goes ex-growth so does it’s share market. Avagoodweekend.

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Pascometer burns red on population ponzi

June 23, 2017 - 12:04 -- Admin

Weeoo, weeoo, weeoo. The Pascometer is wailing on the population ponzi, strongly indicating that the days of mass immigration are indeed numbered: A little after Friday lunch, the population clock on the Australian Bureau of Statistics web site will tick over to 24.5 million. …The simplistic negative economic view of our migration program concentrates on

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