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Deloitte: Infrastructure boom ovaaaaaaaaa!

February 4, 2019 - 00:15 -- Admin

It is not raining on the Aussie economy right now, it is pouring. As we’ve been saying for some time, the public infrastructure surge that has driven what we called the “Botox Boom” in the Aussie economy for two years is now over. Via Deloitte: Deloitte Access Economics Investment Monitor: infrastructure spending set to peak

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ME Bank joins the little bank rate hikes rush

February 4, 2019 - 00:10 -- Admin

How far down are house prices again? Via The Advisor: The second wave of out-of-cycle rate hikes has continued, with a non-major lender lifting its mortgage rates by up to 18 basis points. ME has announced it will increase its home loan interest rates for both new and existing borrowers by up to 18 basis

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Auctions crash rolls into 2019

February 4, 2019 - 00:10 -- Admin

CoreLogic has released its first auction report for 2019, which reported another weak round of auctions on very low volumes. The preliminary national auction clearance rate was just 47.8%, way below the 62.0% recorded in the same weekend of last year: Auction volumes nationally were just 526 – well below the 790 recorded in the

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Links 4 February 2019

February 4, 2019 - 00:01 -- Admin

Global Macro / Markets / Investing: Everything You Know About Global Order Is Wrong – Foreign Policy Google Employees Are Fighting With Executives Over Pay – Wired Resentment of the Wealthy Is Not a Policy – Bloomberg America Is Producing the Wrong Kind of Oil – Bloomberg Do not underestimate the risk of an iron

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Lunatic RBA toys with the tipping point

February 2, 2019 - 12:26 -- Admin

The lunatic RBA doesn’t want to cut interest rates. This is for two reasons that I can see: first, it thinks the Aussie economy is in good shape; second, it would rather hike to rebuild ammunition for the future. The first point is fast losing air. Australia’s fading growth drivers make it plain: credit growth

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Weekend Links 2-3 February, 2019

February 1, 2019 - 21:43 -- Admin

Jitterbugs, 1945, Weaver Hawkins, Art Gallery of NSW   Markets Macro & Investing The Sorry State of the World Economy – Project-Syndicate, Basu Trump hails China trade talks progress and says he will meet Xi Jinping soon – Guardian China says Washington trade talks were ‘frank’ and made ‘important progress’ – SCMP Donald Trump hails

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Macro Afternoon

February 1, 2019 - 16:30 -- Admin

Outside China it’s been a flat finish in the Asian session with most stock markets putting in scratch results as the US/China trade talks recommence. Currency markets are also sanguine although the Yuan has weakened for the first time this week leading into tonights NFP print. Chinese shares continue to move higher with the mainland

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China readying rate cuts?

February 1, 2019 - 14:15 -- Admin

Hello Shanghai Accord! With the Fed in neutral, Barclays says China is next to cut, via Bloomie: “Existing measures are not sufficient to lower the financing costs of the real economy, in a down-cycle with rising credit risk and falling producer-price inflation,” the analysts led by Jian Chang wrote in a note. “Hence, lowering the

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Credit Suisse: The RBA must move to cut the cash rate

February 1, 2019 - 14:00 -- Admin

Again great stuff from Damien Boey at Credit Suisse who has a much better grasp of the economy than does the lunatic RBA: By now, CPI, unemployment and RBA forecast downgrades are becoming old news … The Consensus view is that the RBA will moderately downgrade its forecasts, but not capitulate on its rate stance

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