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Immigration into Australia is about to surge

April 12, 2019 - 00:15 -- Admin

By Leith van Onselen The Australian Bureau of Statistics (ABS) has released visitor arrivals and departures data for the month of February, which posted surging permanent and long-term arrivals, which broke records on both a monthly and annual basis. In the year to February 2019, there were a record 844,800 permanent and long-term arrivals into

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CoreLogic weekly Australian house price update: more universal falls

April 12, 2019 - 00:12 -- Admin

By Leith van Onselen In the week ended 11 April 2019, the CoreLogic 5-city daily dwelling price index, which covers the five major capital city markets, fell another 0.15%: Values fell across all major markets: So far in April, home values have fallen by 0.28% at the 5-city level, again with all major capitals falling:

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Links 12 April 2019

April 12, 2019 - 00:01 -- Admin

Global Macro / Markets / Investing: The Problem With Putting a Price on the End of the World – NY Times Oil and gas ‘could lose 95% of its value’ by 2050, consultancy warns – FN London Can we use physics to forecast long run global economic growth? – Nephologue Investors Should Worry If Climate

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Macro Afternoon

April 11, 2019 - 16:30 -- Admin

Another mixed session here in Asia with Chinese stocks retreating the most, while Japanese bourses stabilised, local markets were wary of the Scomo election call, with the Australian dollar tapering slightly from its overnight surge. The Shanghai Composite has closed 1.5% lower to just below 3200 points, reacting poorly to the expected CPI print, while the Hang

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Canberra: the nation’s capital for dodgy construction

April 11, 2019 - 14:30 -- Admin

By Leith van Onselen It seems poetic that the nation’s capital of corrupt policy making also appears to be the capital of shonky building practices. From The Canberra Times: The ACT government has temporarily shut down 32 construction sites in the past three months, as part of a renewed crackdown on dodgy building work. Access

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Chinese inflation remains weak

April 11, 2019 - 14:00 -- Admin

Vai Capital Economics: • Higher food and oil prices pushed up headline inflation last month but broader price pressures remained subdued and we don’t anticipate an imminent turnaround in underlying inflation. • Consumer prices rose 2.3% y/y in March, up from 1.5% y/y in February (the Bloomberg median was 2.3%, our forecast was 2.1%). (See

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Has the market priced the election?

April 11, 2019 - 13:30 -- Admin

Via Shane Oliver: The Federal Election Some might be forgiven for thinking the wheels have fallen off Australian politics over the past decade with the same number of PM changes as Italy, a fractured Senate and “minority government” at times making sensible visionary long-term policy making hard. With the May 18 Federal Election offering a

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Chinese crash out of Aussie housing

April 11, 2019 - 13:19 -- Admin

Via the quarterly NAB property professionals survey: The trend decline in foreign buying activity over the course of 2018 has continued into 2019. In Q4, the market share of foreign buyers in Australian housing markets fell to just 4.9% (from 6.5% in Q4 and a survey high 16.8% in Q3 2014), and 3.5% in established markets

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BOQ canary croaks on banks

April 11, 2019 - 12:30 -- Admin

The AUD is a little soft this morning: The lunatic RBA has paralysed bonds for now: XJO is down moderately: Dalian is soft: And Big Iron: Big Gas is still enjoying its deluded political risk holiday: Big Gold is mixed: Big Banks are sick: Made that way by the croaking BOQ canary which has broken

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AFR fake news alert: $130k is not “middle-income”

April 11, 2019 - 12:15 -- Admin

By Leith van Onselen The AFR’s John Kehoe has penned a highly spurious article claiming Labor’s 49% tax rate will “hit middle-income earners”: Taxpayers earning between $130,000 and $160,000 today could be hit by Labor’s budget repair levy and 49 per cent top tax rate within four years as income growth pushes them into the

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