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Daily iron ore price update (Goldman)

May 15, 2020 - 09:00 -- Admin

Prices for May 15, 2020: Goldman has a wrap: Goldman Sachs says the iron ore price could retreat to $US70 a tonne as the market moves into surplus in late May-June before rebounding back to $US85 a tonne in the fourth quarter. The broker estimates the iron ore market was in a 20 million tonne

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Australian dollar flies on ABS lies

May 15, 2020 - 07:04 -- Admin

DXY was firm last night: Despite that, the Australian dollar rebounded: EMs more so: Gold is having another crack: The oil bottom is in: Dirt was mixed: And miners of it: EM stocks fell: But junk jumped: Bonds are all bid: Stocks fell but the robots rallied to end up: Westpac has the wrap: Event

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Australia’s youth hit hardest by jobs collapse

May 15, 2020 - 00:15 -- Admin

Yesterday’s ABS labour force release for April was an unmitigated disaster for Australia’s youth – i.e. those aged 15 to 24 years old. While the headline youth unemployment rate only rose by 2.2% to 13.8%: The impact was hidden by a sharp 5.6% decline in the participation rate to 62.9%: Of most interest, 211,000 youth

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CoreLogic weekly house price update: fall

May 15, 2020 - 00:10 -- Admin

In the week ended 14 May 2020, the CoreLogic 5-city daily dwelling price index, which covers the five major capital city markets, fell by 0.02%: Movements were mixed across the major jurisdictions: Over the first two weeks of March, dwelling values have basically flatlined at the 5-city level: Quarterly dwelling values continue to rise, driven

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Links 15 May 2020

May 15, 2020 - 00:01 -- Admin

Global Macro / Markets / Investing: Experts’ best ideas on how to beat Covid-19 and save the economy – Vox IMF warns of further drop in global growth due to Covid-19 – The Guardian International Energy Agency Forecasts The Biggest Decline In Electricity Consumption Since The Great Depression – Stock Market News Global Economic Downturn

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Macro Afternoon

May 14, 2020 - 16:30 -- Admin

Selling is the order of the day here in Asia with all stock markets lower by 1% or more in response to the selloff on Wall Street overnight, as traders weigh up more negativity around the “V” shaped recovery post-coronavirus. The USD is gaining against everything by safe haven Yen, with the Aussie dollar dropping

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MB Fund Podcast: Debt Deleveraging: is this the big one?

May 14, 2020 - 15:40 -- Admin

Will Coronavirus cause a debt crisis? And if so, what type of debt crisis? Ray Dalio has a number of videos and books out talking about the long term debt cycle vs the short term debt cycle. In this episode we have a look at the question of whether this will end another short term

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NZ immigration hits record high as Kiwis rush home

May 14, 2020 - 15:20 -- Admin

From Statistics New Zealand: Annual migrant arrivals of New Zealand citizens are provisionally estimated at 42,800 for the year ended March 2020, with almost half of these arriving between December 2019 and March 2020. This is the highest annual number on record… Annual migrant departures of New Zealand citizens are provisionally estimated at 35,700 for

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Meet China’s ‘wolf warrior’ diplomatic enforcers

May 14, 2020 - 15:00 -- Admin

China’s combative diplomats have a new name – wolf warriors. WION explains how Chinese diplomats, instead of fostering dialogue, have turned into enforcers for the Chinese narrative: We teach our children to stand-up to bullies. It’s time for the world to unite and stand up against the CCP, who are attempting to blackmail the world.

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The battle to lift the yield curve

May 14, 2020 - 14:40 -- Admin

Via the excellent Damien Boey at Credit Suisse: Real yield curve model points to steepening, but … We define the Australian real yield curve as the 10-year inflation-indexed bond yield minus the real 3-month interbank rate, using the inflation swaps curve to profile long- and short-term inflation expectations. Our proprietary model of the real yield curve

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