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Articles from MacroBusiness

The ragening: Angry China loses friends and alienates everybody

June 18, 2019 - 10:15 -- Admin

The gloves are off now. All UBS said was: But that’s the end of a big bond deal with China Railway Construction Corporation because, well, just because. Via the FT: … cultural sensitivity is important for any multinational. But it is an absurdity to translate an innocent English phrase in a certain way and then

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Centre Alliance patriots give ScoMo gas ultimatum

June 18, 2019 - 10:00 -- Admin

Awesome stuff from CA: Ten million taxpayers will have to wait for July 1 tax cuts, with Centre Alliance declaring the legislation is not “urgent” and is unlikely to pass when Parliament returns. The prediction effectively torpedoes hopes that the $1080 tax cuts the Prime Minister promised during the election will quickly pass Parliament –

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Bank of Mum and Dad shut down

June 18, 2019 - 09:45 -- Admin

Via the AFR: From Monday, NAB said it was introducing new guidelines for Bank of Mum and Dad that “complements the law and, in some areas, sets higher standards”. …Under NAB’s new controls, loan guarantors will face improved scrutiny of their suitability by providing more information about how it will impact their finances and awareness

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CoreLogic leading mortgage index firm

June 18, 2019 - 09:15 -- Admin

Via CoreLogic comes the leading mortgage index: The post -election rebound still looks firm if not tearaway. Stock on market is still high by new listings are very weak: Full report.

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Daily iron ore price update (waiting on Vale)

June 18, 2019 - 09:00 -- Admin

Spot fell. Paper too. Steel is softening. Port stocks continue to drain in China, down to 118.7mt last week:   Still just waiting on Vale. Further spikes are possible until Brucutu returns.

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Macro Morning

June 18, 2019 - 09:00 -- Admin

By Chris Becker  Stocks pushed slightly higher on Wall Street overnight, following a mixed session in Europe where risk markets remain poised before tomorrow nights FOMC Meeting. Interestingly, the Fed Business Index fell sharply last night to a 2 year plus low, with consumer and household sentiment figures also dropped, putting more pressure on the

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CSIRO launches ludicrous 2050 Australian economy fantasy

June 18, 2019 - 06:38 -- Admin

I don’t mind a bit of hope. But that’s different to the complete rot that the CSIRO pumped out today: The Australian National Outlook is a new initiative by CSIRO, which is intended to contribute to the evidence base and understanding required for Australia to navigate the complex and often intertwined challenges involved in achieving

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Australian dollar enters free fall as global recession builds

June 18, 2019 - 05:41 -- Admin

DXY was steady last night: The Australian dollar is in free fall versus all major developed economy currencies: And emerging market currencies to boot: Gold was stable: Oil is very weak given the Iran situation and Saudi jawboning: Metals were mixed: Miners were hit: EM stocks hung on: High yield too: The Treasury curve flattened:

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Deloitte: Stimulus to rescue retail

June 18, 2019 - 00:12 -- Admin

By Leith van Onselen Deloitte believes that post-election stimulus will help the retail sector rebound in 2020: After a tough end to 2018, retailers faced yet another period of weak demand and declining retail spending over the March quarter of 2019. However, it may not be all doom and gloom for the sector, with some

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Education industry queues up to milk international students

June 18, 2019 - 00:10 -- Admin

The rapid growth in international students (see next chart) has led to accusations that Australia’s universities are treating them as “cash cows” to be milked for lucrative fees and easy profits. And it’s not hard to see why. According to research by Jerry Zheng, the content editor for OneClass, international tuition fees (17.88%) at Melbourne University

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