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This is not your grandfather’s China property boom

October 21, 2020 - 00:10 -- Admin

Not at all. Via NBS, new home prices up 0.34% in September and 4.6% over the year: 45 out of 70 cities rose in real terms which is not your grandfather’s property boom by a long way: The demographic spread was unchanged with third-tier cities leading. Top tiers are soft: This is weak stuff for

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Why the used car boom bodes poorly for economy

October 21, 2020 - 00:09 -- Admin

Via Moody’s: Prices of wholesale used vehicles rose for the fifth consecutive month in September, according to the Datium Insights-Moody’s Analytics Price Index. Prices rose 3.8% compared with August and are now a staggering 29.9% higher than they were at the same point in 2019 (see Chart 1). All else being equal, now is the

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What spooked the RBA?

October 21, 2020 - 00:05 -- Admin

More monetary drivel from the AFR yesterday: Considerations on the strength of the Australian dollar and the significant drag on the economy because of Victoria’s lockdown were two key factors that influenced decisions on further monetary easing bias, the minutes reveal. In the September minutes the RBA said: Members recognised that the substantial, coordinated and

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Australia faces a slow, part-time jobs recovery

October 21, 2020 - 00:04 -- Admin

The Guardian’s Greg Jericho has produced some nice charts showing the V-shaped recovery that has taken place for part-time workers (outside of Victoria), while full-time jobs have failed to launch: Hours worked per capita is one of the best ways to measure the health of the labour force. It also is good for measuring just

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Links 21 October 2020

October 21, 2020 - 00:01 -- Admin

Global Macro / Markets / Investing: Flippy, the $30,000 automated robot fast-food cook, is now for sale with ‘demand through the roof’ — see how it grills burgers and fries onion rings – Business Insider Country Rankings: World & Global Economy Rankings on Economic Freedom – Heritage The Great Financial Reset: IMF Managing Director Calls

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Macro Afternoon

October 20, 2020 - 17:00 -- Admin

Risk sentiment is very wobbly today here in Asia with Chinese shares just holding on to scratch sessions while the rest of the region sells off slightly in response to the harsher falls on Wall Street overnight. The USD is mixed against most of the majors although the Australian dollar remains on the ropes with

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Bill Evans: RBA to cut and print!

October 20, 2020 - 14:52 -- Admin

Via Bill Evans at Westpac: The Minutes of the October Board meeting of the Reserve Bank of Australia confirm the key themes of Governor Lowe’s speech which was delivered on October 15. They indicate that the Board had effectively decided to ease policy at the October meeting. One reason for delaying the announcement would have

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VIC and NSW border may reopen by mid-November

October 20, 2020 - 14:40 -- Admin

NSW Premier Gladys Berejiklian says it will take at least a fortnight after Victoria’s lockdown restrictions are “substantially” eased before any decision on reopening the state’s border can be made. Meanwhile, the Tasmanian government has advised that NSW residents will be permitted to visit the island state from 2 November, assuming there is no surge

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HomeBuilder subsidy misses Victoria

October 20, 2020 - 14:20 -- Admin

Real estate developers sold 1,154 housing lots across Melbourne and Geelong in August, according to residential land sales specialist Red23. This compares with more than 1,600 sales per month in June and July. However, median lot prices rose by 0.3 per cent to $321,000 in August. The fall in sales was attributed to buyers not

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Only an historic polling puke can save El Trumpo

October 20, 2020 - 14:00 -- Admin

The latest polls do not offer much comfort to El Trumpo. Headline: Battleground states: Betting odds are volatile again: There usually a late swing back to the incumbent in every election. Nate Silver now sees a landslide: Indeed, the polls will need to be historically wrong for Trump to be re-elected: The senate remains tight:

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