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Ray Dalio: Thirty year Aussie house price boom over

June 28, 2019 - 09:15 -- Admin

Via the AFR comes Ray Dalio: …Hedge fund legend Ray Dalio fears further interest rate cuts by the Reserve Bank of Australia could further inflate the “mini bubble” in property, and that it will all end in tears. “Because interest rates have come down steadily there’s been a pretty steady rise in debt, particularly related

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Daily iron ore price update (irrational)

June 28, 2019 - 09:00 -- Admin

Spot prices firmed but ignored the fireworks in paper markets. Steel is still going nowhere, really. CISA output for early June jumped to all-time records. The charts: Reuters sums up the irrationality for me today: “While the Brucutu restart will help boost supply, shipping the additional volumes from Brazil to China could take about 45

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Macro Morning

June 28, 2019 - 08:30 -- Admin

By Chris Becker  Hope is rising on risk markets that this weekend’s G20 summit – more rightly a G2 summit between US and China – will result in some sort of ceasefire at least over the trade war. US stocks rose while European bourses slipped despite a higher German CPI print. The USD was largely

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Australian dollar soars on trade war hopium

June 28, 2019 - 06:25 -- Admin

DXY was firm last night, EUR and CNY soft: The Australian dollar is suddenly everybody’s favourite currency: Gold eased: Oil was mixed: Metals too: Miners struggled after a GLEN mine collapse in Congo: EM stocks are trending higher again: Junk too: Treasuries were bid: And bunds: And Aussie bonds. Stocks lifted: Westpac with the wrap:

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CoreLogic weekly Australian house price update: flatlining

June 28, 2019 - 00:12 -- Admin

In the week ended 27 June 2019, the CoreLogic 5-city daily dwelling price index, which covers the five major capital city markets, fell by 0.02%: Values rose across Sydney and Melbourne but fell across the others: So far in June, dwelling values have fallen by 0.18%, with all major markets but Melbourne falling: The quarterly

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International students gush through visa system holes

June 28, 2019 - 00:08 -- Admin

Over the past few years, multiple examples have come to light highlighting the rorting of Australia’s visa system by international students. First, the surge in temporary bridging visas – from 107,191 in 2014 to 229,242 in 2019 – has been driven overwhelmingly by international students appealing their migration decisions en masse to the Administrative Appeals Tribunal (AAT)

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Links 28 June 2019

June 28, 2019 - 00:01 -- Admin

Global Macro / Markets / Investing: Merrill Lynch Caught Criminally Manipulating Precious Metals Market “Thousands Of Times” Over 6 Years – Zero Hedge Weakening Dollar and Iran Sanctions Could Push Bitcoin and Gold to New Highs – Be In Crypto The Bitcoin bubble is on – Forbes Giant Investors Are Coming After One of Wall

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Macro Afternoon

June 27, 2019 - 17:30 -- Admin

Despite the mixed lead from Wall Street overnight, sentiment has risen here in Asia with more positive comments surrounding Chinese trade talks as the G20 approaches. The Shanghai Composite has bounced back to life, up nearly 0.7% and almost over the 3000 point barrier while the Hang Seng Index has advanced much further, closing nearly 1.5%

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$175bn Pyne takes more dough

June 27, 2019 - 14:00 -- Admin

Via the ABC: Christopher Pyne’s new job has put his old boss, Scott Morrison, under pressure to reprimand him amid accusations it is a breach of ministerial standards. Mr Pyne, who was defence minister until the election, yesterday revealed he has taken a job as a defence consultant with multinational business advisers EY. “I am looking forward

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Big four banks axe thousands of jobs

June 27, 2019 - 13:45 -- Admin

From The ABC comes news that the Big Four Australian banks have axed thousands of jobs, with automation to cause further job losses: Banks are thousands of staff off peak levels… In 2008, the Commonwealth Bank employed 39,621 full-time equivalent employees, a number that rose to 46,000 four years ago, before falling back to 43,771

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